hapter 8 Quiz Soved Help Save & Exit Submit Submit Budgeted sales in Acer Corporation over the next four months are given below: 2 September October November December Budgeted sales $120,000 $140,000 $180,000 $160,000 8002356 Thirty percent of the company's sales are for cash and 70% are on account, Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be Multiple Choice O S161,800 O $161.400 $118.700