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35 votes
35 votes
Capstone Inc. collects 85% of its sales on account in the month of the sale and 15% in the month following the sale. If sales on account are budgeted to be $265,000 for September and $225,000 for October, what are the budgeted cash receipts from sales on account for October? $fill in the blank 1

User Mr Jonny Wood
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1 Answer

18 votes
18 votes

Answer: $231,000

Step-by-step explanation:

The budgeted cash receipts in October is:

= (85% * October sales) + (15% * September sales)

= (85% * 225,000) + (15% * 265,000)

= 191,250 + 39,750

= $231,000

User Roger Gee
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