Checks Experts sells checks and deposits slips to businesses. The company’s history shows 40% of the sales are collected in the month of the sale, 30% the following month, 28% two months later and 2% is never collected. The company expects sales to be $500,000 (Jan), $450,000 (Feb), $425,000 (Mar), and $400,000 (Apr).
How much are the budgeted cash receipts for March?
$______________________
How much are the budgeted cash receipts for the first quarter? $_________________