Boylan Inc Credit Sales Are Collected Over a Two-Month Period,with 55 Per

question 8

Multiple Choice

Boylan Inc.has projected the following sales information for the first quarter of 2009:
$\begin{array}{lrr}&\underline{\text { January }} &\underline{ \text { February }} &\underline{ \text { March }}\\\text {Cash sales}&\$20000&\$ 35000 & \$ 40000 \\\text {Credit sales}&\underline{43000}&\underline{57000} &\underline{ 55000} \\\text {Total sales}&\underline{\$63000}&\underline{ \$ 92000} &\underline{ \$ 95000}\end{array}$
Credit sales are collected over a two-month period,with 55 per cent collected in the month of sale and 45 per cent collected in the month following sale.
Total cash collections for March are:

• A) $55 900
• B) $93 650
• C) $70 250
• D) $95 900

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