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Budgeted sales in Allen Company over the next four months are given below: ...

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Accounting

Budgeted sales in Allen Company over the next four months are given below:
September
October
November
December
Budgeted Sales
$165,000
$188,000
$166,000
$137,000
Twenty-five percent of the company's sales are for cash, and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder is uncollectible. Given these data, what should be cash collections for December?
Question 16Answer
a.
$92,750
b.
$144,125
c.
$85,625
d.
$109,875

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