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Can anybody please explain to be about this problem and how the answer is $140,000....

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Accounting

Can anybody please explain to be about this problem and how the answer is $140,000. I just guessed, but I'm not sure why is that the answer.

Question:

If credit sales for January and February are $100,000 and $200,000, respectively, the cash collections for February are

All sales are on credit. If credit sales for January and February are $100,000 and $200,000, respectively, the cash collections for February are

A. $140,000

B. $300,000

C. $120,000

D. $160,000

E. $80,000

Answer: A

Answer & Explanation Solved by verified expert
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