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The following details have been extracted from the receivables records of X: Invoices paid in the month after sale 60% Invoices paid in the second

The following details have been extracted from the receivables records of X:

Invoices paid in the month after sale 60%

Invoices paid in the second month after sale 20%

Invoices paid in the third month after sale 15%

Bad debts 5%

Credit sales for June to August 2011 are budgeted as follows:

June $100,000

July $150,000

August $130,000

Customers paying in the month after sale are entitled to deduct a 2% settlement discount.

Invoices are issued on the last day of the month.

The amount budgeted to be received in September 2011 from credit sales is:

A. $115,190

B. $116,750

C. $121,440

D. $123,000

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