The following sales budget has been prepared:
Collections are 50 percent in the month of sale, 40 percent in the month following the sale, and 10 percent two months following the sale. No uncollectible accounts are anticipated.
-The total cash received in September on September sales will be
A) $200,000.
B) $600,000.
C) $544,000.
D) $400,000.
Correct Answer:
Verified
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