Assume a company is preparing a budget for its first two months of operations. During...
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Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $40,000 and $44.000, respectively. It also expects credit sales of $60,000 and $70,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale, 35% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the second month? Multiple Choice O $104,000 O $107.000 594,500 S42,000
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