Sharon Corporation collects 15% in the second month following sale, 45% in the month following sale and
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Question:
Sharon Corporation collects 15% in the second month following sale, 45% in the month following sale and 35% of a month's sales in the month of sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:
August budgeted sales$300,000
September budgeted sales$280,000
October budgeted sales$330,000
November budgeted sales$260,000
The amount of cash that will be collected in November is budgeted to be
A) $286,500.
B)$91,000.
C)$285,500.
D)$281,500.
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