Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $96,000 $125,000 $78,000 Credit sales 288,000 450,000 234,000 Total sales $384,000 $575,000 $312,000 Management estimates that 4% of credit sales are eventually uncollectible. Of the collectible credit sales, 65% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an inventory equal to 75% of the sales projected for the month. All purchases of inventory are on open account; 30% will be paid in the month of purchase, and the remainder paid in the month following the month of purchase. Purchase costs are approximately 60% of the selling prices. Total budgeted cash collections in January by Yekstop Corp. are:

Total budgeted cash collections in January by Yekstop Corp. are $ 73,971

Explanation:

Sales                                            November    December    January

Cash Sales                                   96000         125000        78000

Credit Sales                                 288000       450000       234000

Collectible Sales 96%                 276480        432000       224640

Receipt

This Month 65% of Collectible   179712          280800       146016

Next Month 35% of Collectible   0                   96768         151200

Inventory

Total Sales                                    384000       575000       312000

Inventory 75% of Sale                  288000       431250        234000

Inventory Value 60% cost            172800        258750       140400

Payments

This Month 30%                            51840         77625         42120

Next Month 70%                           0                 120960       181125

Total Receipt in January = 146016  + 151200 = 297216

Total Payments in January = 42120  + 181125 = 223245

Net receipt in January = 297216 - 223245 = $73,971

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