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Julia's Candy Co. reports the following from its sales account and sales budget: Sales May $105,000; June $93,000 Expected sales: July $90,000; August $110,000; September
Julia's Candy Co. reports the following from its sales account and sales budget:
Sales May $105,000; June $93,000
Expected sales: July $90,000; August $110,000; September $120,000
Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale.
Based on the info from Julia's the total amount of cash expected to be received from customers in September is:
A. $30,000
B. $82,500
C. $112,500
D. $120,000
E. $202,500
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