Quattro Began Operations in April of This Year

question 21

Multiple Choice

Quattro began operations in April of this year.It makes all sales on account,subject to the following collection pattern: 30% are collected in the month of sale;60% are collected in the first month after sale;and 10% are collected in the second month after sale.If sales for April,May,and June were $60,000,$80,000,and $70,000,respectively,what were the firm's budgeted collections for the quarter?

• A)$121,000.
• B)$140,000.
• C)$153,000.
• D)$175,000.
• E)Some other amount.

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Definitions:

Impermeable Layers

Geological strata that do not allow the passage of water or fluids due to their tightly packed nature.

Permeable Rocks

Rocks that contain pores or cracks through which fluids such as water can easily pass.

Oil And Gas

Natural hydrocarbon resources extracted from the Earth, used as fuels and in the production of various chemicals and materials.

Hydrocarbon Chains

Molecules composed of hydrogen and carbon atoms arranged in a chain, fundamental to organic chemistry and fossil fuels.