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Natcher Corporation collects 60% of a month's sales in the month of sale, 30% in the month following sale, and 5% in the second month
Natcher Corporation collects 60% of a month's sales in the month of sale, 30% in the month following sale, and 5% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:
August budgeted sales | $310,000 |
September budgeted sales | $300,000 |
October budgeted sales | $330,000 |
November budgeted sales | $230,000 |
The amount of cash that will be collected in November is budgeted to be
A.
$218,500
B.
$290,500
C.
$138,000
D.
$252,000
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