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Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in
Gallonte Inc. began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale: 50% are collected in the first month after sale; and 30% are collected in the second month after sale. If sales for April, May, and June were $53,000, $73,000, and $63,000, respectively, what were the firm's budgeted collections for April? Multiple Choice $10,600 $12,600 O O $41,100 $42,400. None of the answers correct
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