Diamond Company Has the Following Sales Budget for the Last

question 37

Multiple Choice

Diamond Company has the following sales budget for the last six months of 2010: Historically,the cash collection of sales has been as follows:
65% of sales collected in month of sale
25% of sales collected in month following sale
8% of sales collected in second month following sale
2% of sales uncollectible
What is the expected cash collection of sales in October?

• A)$58,500
• B)$86,000
• C)$92,400
• D)$99,500

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