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Budgeted sales in Washburn Company over the next four months are given below: September Budgeted sales $230,000 October $290,000 November $310,000 December $250,000 Twenty-five
Budgeted sales in Washburn Company over the next four months are given below: September Budgeted sales $230,000 October $290,000 November $310,000 December $250,000 Twenty-five percent of the company's sales are for cash and 75% 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 15% are collected in the second month following sale. The remainder is uncollectible. Given these data, cash collections for December should be:
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