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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
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 $240,000, $300,000, and $430,000, 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 October from accounts receivable are estimated to be Oa. $168,000 Ob. $201,600 Oc. $134,400 Od. $241,920
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