Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month following sale, and 5% in the second month following sale. The following are budgeted sales data for the company: Total budgeted cash collections in April would be:
A)$35,000
B)$125,000
C)$210,000
D)$370,000

Question

Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month following sale, and 5% in the second month following sale. The following are budgeted sales data for the company:  Total budgeted cash collections in April would be:
A)$35,000 
B)$125,000 
C)$210,000 
D)$370,000

Quizplus · Accepted Answer

The Answer of Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month following sale, and 5% in the second month following sale. The following are budgeted sales data for the company:  Total budgeted cash collections in April would be:
A)$35,000 
B)$125,000 
C)$210,000 
D)$370,000

Seventy Percent of Parlee Corporation's Sales Are Collected in the Month