Farmerlands,Inc.has budgeted sales for the months of September and October at $303,000 and $289,000,respectively.Monthly sales are 80% credit and 20% cash.Of the credit sales,50% are collected in the month of sale,and 50% are collected in the following month.Calculate cash collections for the month of October.

Question

Quizplus · Accepted Answer

C)Calculations of collections for the month of October:
Collections for October sales
 11ea86d6_82da_769f_92b6_bb2b7acd6cac_TB2804_00 Collections for September sales
 11ea86d6_82da_76a0_92b6_ef774aa9f4d6_TB2804_00