Question
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $242,000,
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $242,000, $307,000, and $401,000, 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 September from accounts receivable are estimated to be..?
a. $290,400
b. $169,400
c. $135,520
d. $242,000
show your work please
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