Duck-N-Run Has Projected Sales of $280,000 for January, $315,000 for February

question 70

Multiple Choice

Duck-n-Run has projected sales of $280,000 for January, $315,000 for February, and $336,000 for March. The company collects 62 percent of sales in the month of sale, 35 percent in the month after sale, and 3 percent two months after sale. The accounts receivable balance at the end of the previous quarter was $9,600. What is the amount of the February collections?

• A) $293,300
• B) $326,970
• C) $302,900
• D) $301,333
• E) $293,588

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