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Cullumber Manufacturing Company expects the following sales in January, February, and March: Cash Sales Credit Sales January $50200 $253000 February $46000 $241500 March $85600 $324000
Cullumber Manufacturing Company expects the following sales in January, February, and March:
Cash Sales | Credit Sales | |||
---|---|---|---|---|
January | $50200 | $253000 | ||
February | $46000 | $241500 | ||
March | $85600 | $324000 |
The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 30% in the first month after sale, 5% in the second month after sale, and 5% is expected to be uncollectible. How much cash will be collected from customers in March?
$352450
$409600
$365100
$279500
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