Tolla Company is estimating the following sales for the first six months of next year: Sales at Tolla are normally collected as 70% in the month of sale,25% in the month following the sale,and the remaining 5% being uncollectible.Also,those customers paying in the month of sale are given a 2% discount.Based on this information,how much cash should Tolla expect to collect during the month of April?
A) $281,260
B) $361,260
C) $366,010
D) $393,760
Correct Answer:
Verified
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