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Funcycle Manufacturing's budget includes the following credit sales for the current year: September, $155,000; October, $146,000; November, $130,000; December, $167,000. Experience has shown that payment
Funcycle Manufacturing's budget includes the following credit sales for the current year: September, $155,000; October, $146,000; November, $130,000; December, $167,000. Experience has shown that payment for the credit sales is received as follows: 10% in the month of sale, 60% in the first month after sale, and 30% in the second month after sale. What are the cash collections of credit sales in the month of December?
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