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Sharon Corporation collects 10% in the second month following sale, 55% in the month following sale and 30% of a month's sales in the month
Sharon Corporation collects 10% in the second month following sale, 55% in the month following sale and 30% of a month's sales in the month of sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $290,000 $350,000 $390,000 $220,000 The amount of cash that will be collected in November is budgeted to be O A. $209,000 O B. $315,500 O C. $66,000 O D. $341,500
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