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13) Thornton, Inc. has budgeted sales for the months of September and October at $309,000 and $284,000, respectively. Monthly sales are 20% credit and 80% 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) $255,600 B) $306,500 C) $286,500 D) $278,100 Answer: C 13) Thornton, Inc. has budgeted sales for the months of September and October at $309,000 and $284,000, respectively. Monthly sales are 20% credit and 80% 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) $255,600 B) $306,500 C) $286,500 D) $278,100 Answer: C