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Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of
Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of sales. Using the following information, determine total cash collections for the quarter. January Cash sales $65,000 Sales on account $92,000 Total budgeted sales $157,000 February $76,000 $102,000 $178,000 March $73,000 $138,600 $211,600 a. $698,000 b. $702,000 c. $211,600 d. $175,000
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