Business, 02.12.2019 18:31 desirekotta20

Plato industries' projected sales for the first six months of 2012 are given below:

jan. $250,000 april $300,000 feb. $340,000 may $350,000 mar. $280,000 june $380,000

20% of sales are collected in cash at time of sale, 50% are collected in the month following the sale, and the remaining 30% are collected in the second month following the sale.

cost of goods sold is 85% of sales. purchases are made in the month prior to the sales, and payments for purchases are made in the month of the sale.

total other cash expenses are $70,000/month.

the company's cash balance as of february 28, 2012 will be $10,000.

excess cash will be used to retire shortminusterm borrowing (if any).

plato has no short term borrowing as of february 28, 2012. ignore any interest on shortminusterm borrowing.

the company must have a minimum cash balance of $40,000 at the beginning of each month.

what is plato industries' total cash receipts for april 2012?

a. $326,000

b. $340,000

c. $302,000

d. $300,000

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Plato industries' projected sales for the first six months of 2012 are given below:

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