Question
Freemore Company has the following sales budget for the last six months of 2018: July $206,000 October $181,000 August 168,000 November 203,000 September 209,000 December
Freemore Company has the following sales budget for the last six months of 2018:
July $206,000 October $181,000
August 168,000 November 203,000
September 209,000 December 185,000
Sales are immediately due, however the cash collection of sales, historically, has been as follows:
55% of sales collected in the month of sale,
35% of sales collected in the month following the sale,
7% of sales collected in the second month following the sale, and
3% of sales are uncollectible.
Cash collections for September are ________.
A. | $173,750 | |
B. | $188,170 | |
C. | $199,930 | |
D. | $126,710 |
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