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Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $18,000 $11,000 $33,000 $14,000 $44,000 $36,000 $58,000 $55,000 Credit
Feeney Furniture prepared the following sales budget: Month March April May June Cash Sales Credit Sales $18,000 $11,000 $33,000 $14,000 $44,000 $36,000 $58,000 $55,000 Credit collections are 20% two months following the sale, 40% in the month following the sale, and 32% in the month of sale. The remaining 8% is expected to be uncollectible. What are the total cash collections in June at Feeney Furniture? A. $113,000 B. $92,800 C. $34,800 D. $29,880
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