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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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