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Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent
Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 46% of a month's credit sales are collected in the month of sale, 25% are collected in the month following sale, and 14% are collected in the second month following sale. The remainder are uncollectible. Given these data, cash collections for December should be: Oa. $124,975.00 O b. $92,475.00 c. $155,800.00 O d. $370,000.00
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