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HAM Company has budgeted sales for the next six months as follows: Budgeted Sales March $224,000 April $209,000 May $276,000 June $231,000 July $198,000 August
HAM Company has budgeted sales for the next six months as follows: Budgeted Sales March $224,000 April $209,000 May $276,000 June $231,000 July $198,000 August $243,000 20% of the company's sales are cash sales and 80% of the company's sales are made on account. On average, 36% of the sales on account are collected in the month of sale, 27% is collected in the month following sale, 22% is collected in the second month following sale, and the remaining 15% is collected three months after the month of sale. The budgeted cash collections for the month of June is equal to:
Group of answer choices
$189,808
$200,300
$232,152
$236,008
$237,260
$283,460
$316,920
none of the above choices are correct
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