Budgeted sales in Acer Corporation over the next four months are given below: Budgeted sales September: $120,000
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Budgeted sales in Acer Corporation over the next four months are given below:
Budgeted sales
September: $120,000
October: $140,000
November: $180,000
December: $160,000
Thirty percent of the company's sales are for cash and 70% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be:
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