Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for...
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Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $244,000, $311,000, and $422,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in November from accounts receivable are projected to be:
a. $192,780
b. $279,860
c. $236,320
d. $335,832
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