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Majestic Industries Ltd. collects 30% of a month's sales in the month of sale, 50% in the month ...

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Majestic Industries Ltd. collects 30% of a month's sales in the month of sale, 50% in the month ...

Majestic Industries Ltd. collects 30% of a month's sales in the month of sale, 50% in the month following sale, and 15% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:

March budgeted sales	$310,000
April budgeted sales	$280,000
May budgeted sales	$330,000
June budgeted sales	$285,000

The amount of cash that will be collected in June is budgeted to be

▸ $285,500.

▸ $250,500.

▸ $85,500.

▸ $292,500.

Textbook

Corporate Finance

Edition: 5^th

Author: Booth

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