Funcycle Manufacturing's budget includes the following credit sales for the current year: September, $146,000; October,...
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Accounting
Funcycle Manufacturing's budget includes the following credit sales for the current year: September, $146,000; October, $137,000; November, $121,000; December, $158,000. Experience has shown that payment for the credit sales is received as follows: 10% in the month of sale, 55% in the first month after sale, and 35% in the second month after sale. What are the cash collections of credit sales in the month of December?
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$15,800.
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$114,500.
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$82,350.
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$158,000.
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$130,300.
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