Quattro Began Operations in April of This Year

question 54

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 June?

• A)$21,000.
• B)$60,000.
• C)$69,000.
• D)$75,000.
• E)Some other amount.

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Definitions:

Acquired

Obtained or gained possession of something, typically through purchase or transaction.

Zoning Ordinances

Local laws that define how property in specific geographic zones can be used, affecting buildings, structures, and land use.

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