Use the information below to answer the following question(s).
Three Sisters Catering prepared the following sales budget:

Credit collections are 35% in the month of sale, 55% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.
-What are the total cash collections in May at Three Sisters Catering?

Question

Use the information below to answer the following question(s).
Three Sisters Catering prepared the following sales budget:
  
Credit collections are 35% in the month of sale, 55% in the month following the sale, and 10% two months following the sale. The remaining 5% is expected to be uncollectible.
-What are the total cash collections in May at Three Sisters Catering?

Quizplus · Accepted Answer

To determine the total cash collections in May at Three Sisters Catering, we would need to analyze the company's cash flow statement or any provided data on their sales and cash collection cycle for that specific month. Without specific data or context, such as the percentage of cash sales versus credit sales and the timing of when credit sales are collected, it's impossible to accurately calculate the total cash collections. The correct answer, C ($65,800), is chosen based on the assumption that there is specific data provided elsewhere that indicates this amount.

Use the Information Below to Answer the Following Question(s)