Matterhorn, Inc. had the following sales for the past six months. Matterhorn collects its credit...

Question:

Matterhorn, Inc. had the following sales for the past six months. Matterhorn collects its credit sales 30% in the month of sale, 60% one month after the sale, and 10% two months after the sale.

Cash Sales Credit Sales
January $50,000 $50,000
February $70,000 $110,000
March $55,000 $95,000
April $78,000 $130,000
May $80,000 $105,000
June $75,000 $148,000

What are Matterhorn's total cash receipts for the month of March?

Cash collection:

Cash collection refers to the receipt of cash from the sales made by the company. It is given as the cash sales plus the collection from sales made in the current period plus the collection from sales made in any of the previous periods.

Answer and Explanation:

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