TB MC Qu. 20-126 (Algo) Wichita Industries' sales are... Wichita Industries' sales are 10% cash...
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TB MC Qu. 20-126 (Algo) Wichita Industries' sales are... Wichita Industries' sales are 10% cash and 90% on credit. Credit sales are collected as follows: 30% in the month of sale, 60% in the month following the sale, and 10% in the second month following the sale. On December 31 , the accounts receivable balance includes $28,000 from November sales and $49,000 from December sales. Assume that total sales for January are budgeted to be $66,000. What are the expected cash receipts for January from the current and past saless? Multiple Choice $24,420. $94,420. $87,820. $81,820 $69,220
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