Kara Corporation has the following sales forecasts for the selected three-month period:
Seventy percent of sales are collected in the month of the sale,and the remainder are collected in the following month.
Minimum cash balance is $10,000.Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges) .
-Refer to the figure.How much cash would be collected in September from sales?
A) $15,400
B) $16,000
C) $17,000
D) $20,000
Correct Answer:
Verified
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