Question
The Clooney Companys sales for the next three months are as follows: February $150,000 March $180,000 April $200,000 Collection history for the company indicates that
The Clooney Companys sales for the next three months are as follows:
| February | $150,000 |
| March | $180,000 |
| April | $200,000 |
Collection history for the company indicates that 50% of sales are collected in the month of the sale, 46% is collected in the following month, and 4% of sales are uncollectible.Budgeted cash receipts for April are
| A | $159,000 |
| B | $175,488 |
| C | $182,800 |
| D | $190,000 |
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge
10th edition
1259964949, 1259964947, 978-1259964947
