The following sales budget has been prepared: Collections of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What are the estimated cash collections in November?
A)$130,000
B)$197,000
C)$327,000
D)$340,000

Question

The following sales budget has been prepared:  Collections of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What are the estimated cash collections in November?
A)$130,000 
B)$197,000 
C)$327,000 
D)$340,000

Quizplus · Accepted Answer

The Answer of The following sales budget has been prepared:  Collections of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What are the estimated cash collections in November?
A)$130,000 
B)$197,000 
C)$327,000 
D)$340,000

The Following Sales Budget Has Been Prepared: Collections of Credit