Thomton, Inc. has budgeted sales for the months of September and October at $304,000.00 and S288,000.00, respectively. Monthly sales are 20% credit and 80% cash. Of the credit sales, 50% are collected in the month of sale, and 50% are collected in the following month. Calculate cash collections for the month of October. O A. $289.600.00 OB. $302.400.00 OC. $259,200.00 OD. $273,600.00

Thomton, Inc. has budgeted sales for the months of September and October at $304,000.00 and S288,000.00, respectively. Monthly sales are 20% credit and 80% cash. Of the credit sales, 50% are collected in the month of sale, and 50% are collected in the following month. Calculate cash collections for the month of October. O A. $289.600.00 OB. $302.400.00 OC. $259,200.00 OD. $273,600.00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...

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