Nunthatch corporation began its operations on September 1 of the current year. Budgeted sales for...
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Nunthatch corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $260,000, $350,000, and $400,000, respectively, for September, October, and November. The company expects to sell 30% of its merchandies for cash. Of sales on account, 80% are expected to be collected in the month of the sale, 20% in the month following the sale, and the remainder in the following month.
The cash collections in September from accounts receivable are:
A. $223,600
B. $145,600
C. $192,000
D. $168,000
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