Use the information below to answer the following question(s) .
Copper Corporation has the following sales budget for the last six months of 2016:
Historically, the cash collection of sales has been as follows:
65 percent of sales collected in month of sale,
25 percent of sales collected in month following sale,
8 percent of sales collected in second month following sale, and
2 percent of sales is uncollectable.
-Cash collections for September are
A) $143,000.
B) $161,400.
C) $199,000.
D) $204,000.
E) $240,000.
Correct Answer:
Verified
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