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Can anybody please explain to be about this problem and how the answer is $140,000. I just guessed, but I'm not sure why is that the answer.
Question:
If credit sales for January and February are $100,000 and $200,000, respectively, the cash collections for February are
All sales are on credit. If credit sales for January and February are $100,000 and $200,000, respectively, the cash collections for February are
A. $140,000
B. $300,000
C. $120,000
D. $160,000
E. $80,000
Answer: A
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