Kelso's Has Projected Sales for January Through April of $136,000

question 54

Multiple Choice

Kelso's has projected sales for January through April of $136,000, $148,000, $144,000, and $146,000, respectively.The firm collects 59 percent of sales in the month of sale, 36 percent in the month following the sale, and the remainder in the second month following the sale.Assume all sales are collected.The accounts receivable balance at the end of the beginning of January was $56,050 ($47,643 of which was uncollected December sales) .How much did the firm collect in the month of February?

• A)$138,539
• B)$141,220
• C)$140,208
• D)$138,615
• E)$142,090

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