Question
12 12 02:10:13 Orion Corporation is preparing a cash budget for the six months beginning January 1. Shown below are the company's expected collection pattern
12 12 02:10:13 Orion Corporation is preparing a cash budget for the six months beginning January 1. Shown below are the company's expected collection pattern and the budgeted sales for the period. Expected collection pattern: 65% collected in the month of sale 20% collected in the month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted sales: January $160,000 February... $185,000 March... $190,000 April... $170,000 May...........$200,000 June $180,000 The estimated total cash collections during April from sales and accounts receivables would be: Multiple Choice $155,900 O O O $167,000 $171,666 $173,400
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