The Kafusi Company has the following budgeted sales:
The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.
-The budgeted cash receipts for July would be:
A) $400,000
B) $430,000
C) $435,000
D) $390,000
Correct Answer:
Verified
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