Use this information about Nuthatch Corporation to answer the question that follows. Nuthatch Corporation began...
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Accounting
Use this information about Nuthatch Corporation to answer the question that follows.
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first 3 months of business-September, October, and November-are $245,000, $318,000, and $423,000, 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 September from accounts receivable are estimated to be
a. $294,000
b. $171,500
c. $245,000
d. $137,200
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