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Walter Enterprises expects its September sales to be 30% higher than its August sales of...

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Accounting

Walter Enterprises expects its September sales to be 30% higher than its August sales of $205,000. Purchases were $155,000 in August and are expected to be $175,000 in September. All sales are on credit and are collected as follows: 40% in the month of the sale and 60% in the following month. Merchandise purchases are paid as follows: 30% in the month of purchase and 70% in the following month. The beginning cash balance on September 1 is $8,000. The ending cash balance on September 30 would be:

Multiple Choice

$185,100.

$22,500.

$99,500.

$76,600.

$68,600.

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