As of January 1 of the current year, the Joyner Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each months sales are for cash. Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with the remaining 40% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of February? 

1). $91,200 

2). $129,600 

3). $133,600 

4). $62,400

Answer rating: 100% (QA)

Answer Option 3 February cash collections 133600 Solution Febr... View the full answer