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-36) Oakton Furniture provided the following information relevant to its sales for December Year 1...

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Accounting

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-36) Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: 4 5 6 Credit sales Cash sales 7 Dec. Year 1 (Actual) $ 120,000 $ 20,000 Jan. Year 2 (Budgeted) $ 280,000 $ 50,000 Feb. Yen 2 (Budgeted) $ 310,000 $ 60,000 Mar. Year 2 (Budgeted) $ 220,000 $ 24,000 3 Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following mouth. Total budgeted cash receipts in February are expected to be: A) $60,000. B) S162,400 C) $352,600. D) $228,000

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