Use the information below to answer the following question(s) .
Grinnell Manufacturing Company has the following information for 2015:
Budget Expenses per Month
Note: All cash expenses are paid as incurred; Collections from sales are 50% in the month of sale and 50% in the month following the sale; December 2014 sales were $110,000.
-What are the expected total cash receipts for February?
A) $118,500
B) $89,000
C) $88,500
D) $85,000
E) $80,500
Correct Answer:
Verified
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