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Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales $23,000 $32,000 $38,000 $57,000 Credit Sales $8,000 $13,000 $35,000 $45,000 Credit
Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales $23,000 $32,000 $38,000 $57,000 Credit Sales $8,000 $13,000 $35,000 $45,000 Credit collections are 10% two months following the sale, 40% in the month following the sale and 40% in the month of sale. The remaining 10% is expected to be uncollectible. What are the total cash collections in May at Feeney Furniture? O A. $73,000 B. $11,900 O C. $58,000 OD. $20,000
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