Avery Manufacturing has the following sales budgets for the fourth quarter.

	Cash Sales	Credit Sales
October	$580,400	$232,900
November	624,800	344,000
December	783,610	398,700

The accounting manager has analyzed cash collections and determined that credit sales are collected 60% in the month of sale, 25% in the month following the sale, and 15% in the 2nd month following sale. How much cash will Avery collect in December? [collections]

Answer rating: 100% (QA)

Required solution Answer Cash collected in December would include ... View the full answer