Markham Company has completed its sales budget for the first quarter of Year 2. Projected...
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Accounting
Markham Company has completed its sales budget for the first quarter of Year 2. Projected credit sales for the first four months of the year are shown below:
January
$
29,000
February
$
35,000
March
$
44,000
April
$
47,000
The company's past records show collection of credit sales as follows: 29% in the month of sale and the balance in the following month. The total cash collection from receivables in March is expected to be:
A. $30,740.
B. $44,000.
C. $41,390.
D. $37,610.
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