July August September Budgeted sales $180,000 $220,000 $240,000 .... Cash sales are 25% of total sales and all credit sales are ex- pected to be collected in the month following the sale. The total amount of cash expected to be received from custom- ers in September is a. $240,000. c. $60,000. e. $220,000. b. $225,000. d. $165,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A store has the following budgeted sales for the next three months.

July
August
September
Budgeted sales
$180,000 $220,000
$240,000
....
Cash sales are 25% of total sales and all credit sales are ex-
pected to be collected in the month following the sale. The
total amount of cash expected to be received from custom-
ers in September is
a. $240,000.
c. $60,000.
e. $220,000.
b. $225,000.
d. $165,000.
Transcribed Image Text:July August September Budgeted sales $180,000 $220,000 $240,000 .... Cash sales are 25% of total sales and all credit sales are ex- pected to be collected in the month following the sale. The total amount of cash expected to be received from custom- ers in September is a. $240,000. c. $60,000. e. $220,000. b. $225,000. d. $165,000.
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