Baltimore Baking Is Preparing Its Cash Budget and Expects to Have

Baltimore Baking is preparing its cash budget and expects to have sales of $30,000 in January, $35,000 in February, and $35,000 in March.If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March?

A) $24,057
B) $26,730
C) $29,700
D) $33,000
E) $36,300

Correct Answer:

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