Nuthatch Corporation Began Its Operations on September 1 of the Current

question 58

Multiple Choice

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $260,000, $375,000, and $400,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in September from accounts receivable are estimated to be

• A) $223,600
• B) $145,600
• C) $182,000
• D) $168,000

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