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Adidas Corporation prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:
Adidas Corporation prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:
Sales Budget | April | May | June | |||
Cash sales | 30,000 | 43,000 | 55,000 | |||
Sales of account | 370,000 | 432,000 | 405,000 | |||
400,000 | 475,000 | 460,000 | ||||
Adidas expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale.
What is the amount of budgeted cash collections for June?
A. $460,000
B. $461,900
C. $406,900
D. $424,900
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