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Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $239,000, $306,000, and $423,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in November from accounts receivable are projected to be:
a.$194,040
b.$335,664
c.$279,720
d.$236,880
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