Business, 07.04.2020 03:20 PastelHibiscus

Budgeted sales in Allen Company over the next four months are given below:

September October November December
$100,000 $160,000 $180,000 $120,000

Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder are uncollectible. Given these data, cash collections for December should be:

A. $138,000B. $133,500C. $120,000D. $103,500

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Budgeted sales in Allen Company over the next four months are given below:

September Oc...

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