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

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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