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Business, 25.06.2019 06:40 oijhpl5085

28. mitchell company had the following budgeted sales for the last half of last year: the company is in the process of preparing a cash budget and must determine the expected cash collections by month. to this end, the following information has been assembled: collections on credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale assume that the accounts receivable balance on july 1 was $75,000. of this amount, $60,000 represented uncollected june sales and $15,000 represented uncollected may sales. given these data, the total cash collected during july would be: a. $150,000 b. $235,000 c. $215,000 d. $200,000

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