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15) McCloud Company has budgeted the following credit sales during the last four months of...

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Accounting

15) McCloud Company has budgeted the following credit sales during the last four months of the year: September, $16,000; October, $22,000; November $21,000; December, $24,000. Experience has shown that payment for the credit sales is received as follows: 15% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 5% uncollectible. How much cash can McCloud Company expect to collect in November as a result of credit sales?

A) $19,550 B) $16,350 C) $19,800 D) $16,400

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