Budgeted Sales for ABC Company Are as Follows

question 84

Multiple Choice

Budgeted sales for ABC Company are as follows:
All stock is marked up to sell at its invoice cost plus 25 per cent. On average 60 per cent of credit sales are collected in the month of sale, 35 per cent in the month following sale and the remainder is uncollectible. Budgeted total cash receipts for November are:

• A) $1 675 000
• B) $1 875 000
• C) $1 280 000
• D) None of the given answers

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