Hatfield Company has the following budgeted credit sales for the last four months of the year-September, $13,000; October, $19,000; November $20,000; December, $24,000. Experience has shown that payment for the credit sales is received as follows: 10% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 10% uncollectible. How much cash can Hatfield Company expect to collect in November as a result of credit sales?

Question

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D) Calculations: $2,000 + ($19,000 × 60%) + ($13,000 × 20%) = $16,000

Hatfield Company Has the Following Budgeted Credit Sales for the Last