35. Uno makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, November, and December were $70,000, $80,000, and $60,000, respectively, what were the firm's budgeted collections for December?

A. $18,000.

B. $66,000.

C. $73,000.

D. $74,000.

E. Some other amount.

Answer: C

36. Vern's makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, November, and December were $70,000, $60,000, and $50,000, respectively, what was the budgeted receivables balance on December 31?

A. $40,000.

B. $46,000.

C. $49,000.

D. $59,000.

E. Some other amount.

Answer: B

37. Drago makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for June July, and August were $120,000, $160,000, and $220,000, respectively, what were the firms budgeted collections for August and the companys budgeted receivables balance on August 31?

	August Collections	August 31 Receivables Balance
A.	$162,000	$182,000
B.	$174,000	$170,000
C.	$190,000	$154,000
D.	$262,000	$ 82,000
E.	Some other combination of figures not listed above.

Answer: B

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