Multiple Choice
Thornton,Inc.has budgeted sales for the months of September and October at $303,000 and $289,000,respectively.Monthly sales are 80% credit and 20% cash.Of the credit sales,50% are collected in the month of sale,and 50% are collected in the following month.Calculate cash collections for the month of October.
A) $173,400
B) $297,400
C) $294,600
D) $181,800
Correct Answer:
Verified
Correct Answer:
Verified
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