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 October from October sales?
A)$125,000
B)$140,000
C)$230,000
D)$310,000

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 October from October sales?
A)$125,000 
B)$140,000 
C)$230,000 
D)$310,000

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 October from October sales?
A)$125,000 
B)$140,000 
C)$230,000 
D)$310,000

The Following Sales Budget Has Been Prepared: Collections of Credit