Question
Use the information below for Dove Corporation to answer the question that follow. Dove Corporation began its operations on September 1 of the current year.
Use the information below for Dove Corporation to answer the question that follow.
Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $242,000, $305,000, and $411,000, respectively. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale.
The cash collections expected in October are
a.$280,200
b.$267,600
c.$290,825
d.$219,200
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