Kennedy Enterprises Has Budgeted Sales for the Months of September

question 58

Multiple Choice

Kennedy Enterprises has budgeted sales for the months of September and October at $170,000and $140,000, respectively. Monthly sales are 60% credit and 40% cash. Of the credit sales, 30% are collected in the month of sale and 70% are collected in the following month. What are the October cash collections from customers?

• A)$152,600
• B)$81,200
• C)$145,400
• D)$96,600