Gallonte Inc began operations in April of this year, it makes all sales on accountyubject to the following collection pattern: 30% are collected in the month of sale 60 are collected in the first month after sale, and 10% are collected in the second month after sale. if sales for April, May, and june were $60,000, s80.000, and $70.000, respectively, what were the firm's budgeted collections for june? $60.000 $21,000. $69,000 $75,000. None of the answers is correct

Gallonte Inc began operations in April of this year, it makes all sales on accountyubject to the following collection pattern: 30% are collected in the month of sale 60 are collected in the first month after sale, and 10% are collected in the second month after sale. if sales for April, May, and june were $60,000, s80.000, and $70.000, respectively, what were the firm's budgeted collections for june? $60.000 $21,000. $69,000 $75,000. None of the answers is correct

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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