A company began its operations on January 1 of 2020. Sales budget for January, February and March are Php 240,000; Php 300,000; and Php 420,00 respectively. This company expects 20% of sales on cash and the remainder on account. Of the sales on account, 70% is expected in the month of sale, the 25% in the month following the sale, and the remainder in the following month.

How much is the companys total cash collection for the month of March?

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solution 8 points

choice 2 points

Select one:

a. 388,800.00

b. 295,200.00

c. 294,000.00

d. 304,800.00

Please show steps