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All of a company's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in
All of a company's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company: Tin Att 59 April Total sales $50,000 May $60,000 June $40,000 July $30,000 What is the amount of cash that should be collected in June? $51,000 O $37,000 $24,000 $41,000
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