Amelia's Bakery, specializing in Gluten Free baked goods has the following data pertaining to cash collections.
Expected sales in the 1st quarter are as follows:
January | February | March | |
Unit Sales | 24,000 | 22,000 | 21,000 |
Each unit sells for $11.
During any month, 65% of sales are credit sales and 35% are cash sales. All credit sales are collected in the following month.
What are the cash receipts in February for the planned sales?
$