Multiple Choice
Quattro began operations in April of this year.It makes all sales on account,subject to the following collection pattern: 30% are collected in the month of sale;60% are collected in the first month after sale;and 10% are collected in the second month after sale.If sales for April,May,and June were $60,000,$80,000,and $70,000,respectively,what were the firm's budgeted collections for May?
A) $21,000.
B) $60,000.
C) $69,000.
D) $75,000.
E) Some other amount.
Correct Answer:
Verified
Correct Answer:
Verified
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