Gallonte Inc. began operations in April of this year. It makes all sales on account,...
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Accounting
Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 50% are collected in the first month after sale; and 30% are collected in the second month after sale. If sales for April, May, and June were $59,000, $79,000, and $69,000, respectively, what were the firm's budgeted collections for June?
Multiple Choice
$13,800.
$45,300.
$53,300.
$71,000.
None of the answers is correct.
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