Bradley Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data:
January cash sales
$ 50,000
January credit Sales
380,000
Collections from December credit sales
150,000
Selling and administrative costs (paid in month of
50,000
purchase)
Depreciation expense
25,000
Merchandise Inventory, January 1
200,000
Merchandise Inventory, January 31
210,000
Cost of goods sold is 40% of Bradley Cooper's
selling price
All purchases are paid in cash
Credit sales are collected 60% in the month of sale,
35% in the following month, and 5% is deemed
uncollectible
• What are Bradley Cooper's budgeted cash receipts for January?