A Company Reports the Following Information from Its Sales Account

question 62

Multiple Choice

A company reports the following information from its sales account and sales budget:
$\begin{array}{lr}\text { Sales }&\text { May } & \$52,000 \\&\text { June } & 47,000\\\\\text { Expected }&\text { July } & \$ 45,000 \\\text { Sales: } \\&\text { August } & 55,000 \\&\text { September } & 60,000\end{array}$
Cash sales are normally 30% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:

• A) $58,500
• B) $56,500
• C) $60,000
• D) $80,500
• E) $55,000

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