hocolate Co. reports the following information from its sales budget: ...
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Accounting
hocolate Co. reports the following information from its sales budget:
| Expected sales: | July | $ | 89,000 | |
| August | 109,000 | |||
| September | 119,000 | |||
Cash sales are normally 20% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:
Multiple Choice
$119,000.
$87,200.
$111,000.
$23,800.
$206,200.
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