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Corp is preparing the cash collections budget. Sales Information is as follows: January Cash Sales:...

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Accounting

Corp is preparing the cash collections budget. Sales Information is as follows:

January Cash Sales: $50 January Credit Sales: $100 February Cash Sales: $80 February Credit Sales: $50 March Cash Sales: $70 March Credit Sales: $60

60% of credit sales are collected in the month of sale 40% of credit sales are collected in the month after the month of sale (1 month later) How much cash (in $) is expected to be collected in March? A) 130 B) 70 C) 90 D) 126 E) 94

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