Shiller Corporation Has the Following Sales Forecasts for the Selected

question 101

Multiple Choice

Shiller Corporation has the following sales forecasts for the selected three-month period in 2018: $$\begin{array} { l r } \text { Month } & \text { Sales } \\\text { July } & \$ 24,000 \\\text { August } & 14,000 \\\text { September } & 16,000\end{array}$$ All sales are on account. Seventy percent of sales are collected in the month of the sale, and the remainder are collected in the following month. $\begin{array} { l } \text {Accounts receivable balance (July 1, 2018) }&\$20,000\\ \text { Cash balance (July 1, 2018) }&10,000\\\end{array}$
Minimum cash balance is $10,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges) . How much cash would be collected in September from sales?

• A)$15,400
• B)$17,000
• C)$16,000
• D)$20,000

---

Definitions:

Civil War Veterans

Individuals who served as soldiers during the American Civil War (1861-1865) between the Union and Confederate states.

Board Of Indian Commissioners

An oversight body established in 1869 by the U.S. government to monitor the administration of policies related to Native American peoples, especially regarding the management of supplies and treaties.

Ulysses Grant

The 18th President of the United States (1869–1877) and a leading Union general during the American Civil War, known for his decisive victories against the Confederate States.

Peace Policy

A term that might refer to various historical strategies or policies aimed at establishing or maintaining peace among nations or groups, such as U.S. government efforts to pacify Native American tribes in the late 19th century.