JP Co has budgeted that sales will be 501,500 in February, 320,500 in April. Half of sales will be credit sales. 80% of receivables are expected to pay in the month after sale, 15% in the second month after sale, while the remaining 5% are expected to be bad debts.
Receivables who pay in the month after sale can claim a 4% early settlement discount.
What level of sales receipts should be shown in the cash budgetfor March20X2 (to the nearest $)?