Mmalehlohonolo Company has provided you with the following budgeted sales: April May June July Credit sales R320 000 R300 000 R350 000 R400 000 Cash sales R70 000 R80 000 R90 000 R70 000 Collection of credit sales are as follows: 30% in the month of sale. 60% in the month following the month of sale. The remainder in the second month following the month of sale. There are no debts. The budgeted cash receipts for July would be: Select one: A. R400 000 B. R430 000
