The PDQ Company makes collections on credit sales according to the following schedule: 
25% in month of sale
70% in month following sale
4% in second month following sale
1% uncollectible
The following sales have been budgeted:
What would be the cash collections in June?
A) $110,000.
B) $111,500.
C) $113,400.
D) $115,500.
Correct Answer:
Verified
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