All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company:
What is the amount of cash that should be collected in March?
A) $24,000
B) $37,000
C) $41,000
D) $51,000
Correct Answer:
Verified
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