Question
Could you please him me with the below multiple choice question. October, November, and December sales are $150,000, $200,000, and $225,000, respectively. A total of
Could you please him me with the below multiple choice question.
October, November, and December sales are $150,000, $200,000, and $225,000, respectively. A total of 80% of all sales are credit sales and 20% are cash sales. A total of 60% of credit sales are collected in the month of the sale and 40% are collected in the following month. There are no bad debt expenses. What is the amount of cash collections for November?
| A) | $184,000 | |
| B) | $208,000 | |
| C) | $172,000 | |
| D) | $232,000 |
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Internal Auditing Assurance & Advisory Services
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
4th Edition
0894139878, 978-0894139871
