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Ruiz Co.'s budget includes the following credit sales for the current year. September, $147,000; October, $138,000; November, $122,000; December, $159,000. Credit sales are collected
Ruiz Co.'s budget includes the following credit sales for the current year. September, $147,000; October, $138,000; November, $122,000; December, $159,000. Credit sales are collected as follows: 15% in the month of sale, 60% 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 $23,850 $159,000
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