ber 1 of the current year. Budgeted sales for the first three months of business

Question

ber 1 of the current year. Budgeted sales for the first three months of business are $233.360, $300,663, and $415.745 Wright began its o for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. What are the cash collections in September from sales on account? Select the correct answer, O$177 354 O $233,360 O $130,682 O $46,672

Explanation / Answer

Compute cash collection from sales on account in september :

Cash collection in september from sales on account = 233360*80%*70% = 130682

so answer is c) $130682

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