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Business, 07.08.2021 04:20 cbawesome8

Wichita Industries' sales are 10% for cash and 90% on credit. Credit sales are collected as follows: 40% in the month of sale, 50% in the next month, and 10% in the second following month. Wichita Industries' had $26,000 from November sales and $45,000 from December sales. Assume that total sales for January and February are budgeted to be $64,000 and $128,000, respectively. What are the expected cash receipts for February from current and past sales?

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