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How much cash will be collected from customers

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Question - Johnson Equipment expects the following sales in January, February, and March:

 

Cash Sales

Credit Sales

January

$50,000

$250,000

February

$45,000

$240,000

March

$85,000

$325,000

The controller has determined that the company collects credit sales as follows: 60% in the month of sale, 35% in the first month after sale, and 5% in the second month after sale. How much cash will be collected from customers in March?

a- $291,500

b- $376,500

c- $410,000

d- None of these answer choices are correct

Reference no: EM132107576

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