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Justin Company's budget includes the following credit sales for the current year: September, $38,000; October, $49,000; November, $43,000; December, $45,000. Experience has shown that payment
Justin Company's budget includes the following credit sales for the current year: September, $38,000; October, $49,000; November, $43,000; December, $45,000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 55% in the first month after sale, 22% in the second month after sale, and 3% is uncollectible. How much cash can Justin Company expect to collect in November as a result of current and past credit sales?
Multiple Choice
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$46,710.
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$43,910.
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$32,510.
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$43,000.
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$41,310.
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