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Sheffield Corp. reported the following information for 2016: October November December Budgeted sales $1270000 $1170000 $1470000 All sales are on credit. Customer amounts on account

Sheffield Corp. reported the following information for 2016:

October

November

December

Budgeted sales

$1270000

$1170000

$1470000

All sales are on credit.

Customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Sheffield receive in November?

  • A.

    $1170000

  • B.

    $585000

  • C.

    $1320000

  • D.

    $1220000

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