Use the Following to Answer Questions

question 20

Multiple Choice

Use the following to answer questions
Minuteman Company's sales were budgeted for the first six months of its fiscal year as follows:
All sales are on credit and management estimates that 55% will be collected in the month following the sale, with the remaining 45% collected the second month following the sale.
-Cash collections during August are estimated at:

• A)$360,000
• B)$373,500
• C)$462,000
• D)$517,000