Sioux Corporation Is Estimating the Following Sales for the First

question 161

Multiple Choice

Sioux Corporation is estimating the following sales for the first four months of next year: Sales are normally collected 60% in the month of sale, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April?

• A)$286,500
• B)$320,000
• C)$192,000
• D)$94,500

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