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Ruiz Co.s budget includes the following credit sales for the current year: September, $154,000; October, $145,000; November, $129,000; December, $166,000. Credit sales are collected as
Ruiz Co.s budget includes the following credit sales for the current year: September, $154,000; October, $145,000; November, $129,000; December, $166,000. Credit sales are collected as follows: 20% in the month of sale, 55% in the first month after sale, and 25% in the second month after sale. How much cash can the company expect to collect in December as a result of current and past credit sales? Multiple Choice $33,200. $107,200. $104,150.
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