Kara Corporation Has the Following Sales Forecasts for the Selected

question 14

Multiple Choice

Kara Corporation has the following sales forecasts for the selected three-month period:
$$\begin{array} { l l } \text { Month } & \text { sales } \\\hline \text { July } & \$24,000 \\\text { August } & 14,000 \\\text { September } & 16,000\end{array}$$ Seventy percent of sales are collected in the month of the sale,and the remainder are collected in the following month.
$$\begin{array} { l r } \text { Accounts recervable balance (July 1) } &\$20,000\\\text { Cash balance (July 1) } & 10,0000\end{array}$$ Minimum cash balance is $10,000.Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges) .
-Refer to the figure.How much cash would be collected in September from sales?

• A)$15,400
• B)$16,000
• C)$17,000
• D)$20,000

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