Orange Company is a seller of high quality products sold only to large wholesale firms. Orange Company sales products to customers on account only (no cash sales). Projected sales in units for the first quarter of 2020 are as follows: January 2000 units, February = 2600 units and March = 2800 units. The sales price of each unit is $10. Management expects the following collection pattern: 80% of sales revenue will be collected in the month of sale and 20% in the next month. Cash collections on account for February are: $22,400 $ 26,400 $24,800 $ 26,000 Previous Next