Question
Sugar Pine Inc. collects 30% of its sales in the month of sale and the other 70% in the following month. The following shows budgeted
Sugar Pine Inc. collects 30% of its sales in the month of sale and the other 70% in the following month. The following shows budgeted sales for January through March.
| January | $250,000 |
| February | $325,000 |
| March | $387,500 |
What is the amount of cash receipts budgeted for February?
Group of answer choices
$97,500
$271,250
$272,500
$302,500
None of the answer choices is correct.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
