Seventy percent of Pitkin Corporation's sales are collected in the month of sale, 20% in the month
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Question:
Seventy percent of Pitkin Corporation's sales are collected in the month of sale, 20% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company:
January | February | March | April | ||
Budgeted sales | $200,000 | $300,000 | $350,000 | $250,000 | |
Total budgeted cash collections in April would be:
a. $175,000
b. $275,000
c. $70,000
d. $30,000
Related Book For
Essentials of Statistics for Business and Economics
ISBN: 978-1305081598
7th edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam
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