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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