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Calculate the collections from the customers for the month

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Reference no: EM132590444

Camellia, a merchandising company, has provided the following extracts from their budget for the first quarter of the following year:

                                    Jan.             Feb.              March
Sales (25% cash). $550,000.     $700,000.    $900,000

Question 1: The company collects 70% of credit sales in the same month and the next month. Calculate the collections from the customers for the month of Feb.

Option A) $666,250

Option B) $491,000

Option C) $542,500

Option D) $700,000

Reference no: EM132590444

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