On October 1 of the current year, Winston Corporation prepared a cash budget for October, November, and December. All of Winston's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual) ...........................................................	$45,000
September sales (actual) ......................................................	55,000
October sales (estimated) .....................................................	25,000
November sales (estimated)..................................................	75,000
December sales (estimated)..................................................	65,000

Approximately 60% of all sales are collected in the month of the sale, 30% is collected in the following month, and 10% is collected in the month thereafter.

12. Refer to the information above. Budgeted collections from customers in October total:

Use the following to answer questions 12-14:

On October 1 of the current year, Winston Corporation prepared a cash budget for October, November, and December. All of Winston's sales are made on account. The following information was used in preparing estimated cash collections:

August sales (actual) ...........................................................	$45,000
September sales (actual) ......................................................	55,000
October sales (estimated) .....................................................	25,000
November sales (estimated)..................................................	75,000
December sales (estimated)..................................................	65,000

Approximately 60% of all sales are collected in the month of the sale, 30% is collected in the following month, and 10% is collected in the month thereafter.

12. Refer to the information above. Budgeted collections from customers in October total:

Answer

A) $47,000.

B) $34,000.

C) $36,000.

D) $58,000.

13. Refer to the information above. Budgeted collections from customers in November total:

Answer

A) $37,000.

B) $58,000.

C) $64,000.

D) $53,000.

14. Refer to the information above. Budgeted collections from customers in December total:

Answer

		A) $60,000.
		B) $65,000.
		C) $69,000.
		D) $64,000.