Kam Department Store Reported the Following Information for 2022 All Sales Are on Credit

question 8

Multiple Choice

Kam Department Store reported the following information for 2022: $\begin{array} { l } & \text {October }& \text { November}& \text { DECEMBER}\\ \text {Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\\\end{array}$
All sales are on credit.
• Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

• A)$580000
• B)$1300000
• C)$1200000
• D)$1160000

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