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Leone Lamps provides the following information about sales: August September October November December January February March Total Sales $ 500,000 $ 625,000 $ 750,000 $
Leone Lamps provides the following information about sales: August September October November December January February March Total Sales $ 500,000 $ 625,000 $ 750,000 $ 250,000 $ 125,000 $ 62,500 $ 187,500 $ 375,000 Credit sales $ 400,000 $ 500,000 600,000 $ 200,000 $ 100,000 $ 50,000 $ 150,000 $ 300,000 Leone expects credit sales will be fully collected over three months: Month of sales = 35.0%, 1st month after sale = 40.0%, and 2nd month after sale = 25%. NO uncollectible accounts are expected. Compute TOTAL cash collections for November. O $250,000 O $270,000 O $435,000 O $485,000 O None of the other answers are correct
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