Copper Corporation has the following sales budget for the last six months of 2016: July $200,000 October
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Question:
Copper Corporation has the following sales budget for the last six months of 2016:
| July | $200,000 | October | $180,000 |
| August | 160,000 | November | 200,000 |
| September | 220,000 | December | 188,000 |
Historically, the cash collection of sales has been as follows:
65 percent of sales collected in month of sale,
25 percent of sales collected in month following sale,
8 percent of sales collected in second month following sale, and
2 percent of sales is uncollectable.
Cash collections for October are
$117,000.
$174,000.
$184,800.
$199,000.
$176,400.
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