Zinger Corporation has budgeted sales over the next four months below: September October November December...
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Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 41% of a month's credit sales are collected in the month of sale, 32% are collected in the month following sale, and 7% are collected in the second month following sale. The remainder are uncollectible. Given these data, cash collections for December should be: Select one: a. $121,150.00 b. $88,650.00 c. $150,700.00 d. $370,000.00
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