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Feeney Furniture prepared the following sales budget Month March April May June Cash Sales $20,000 $38,000 $37,000 $51,000 Credit Sales $15,000 $13,000 $38,000 $53,000 Credit
Feeney Furniture prepared the following sales budget Month March April May June Cash Sales $20,000 $38,000 $37,000 $51,000 Credit Sales $15,000 $13,000 $38,000 $53,000 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. $58,900 O B. $75,000 O C. $21,900 O D. $15,000
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