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What amount of november credit sales will be collected

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Reference no: EM132895836

B Ltd. has given you the following information to prepare its cash budget for December 20XX.

October November December

R80 000 R70 000 R100 000

50% of sales are on credit.

  • 40% of credit sales are collected in the month of sale and the remainder in the month thereafter.
  • Purchases amount to 60% of sales.
  • All purchases are on credit.
  • 50% of purchases are paid in the first month following the month of purchase and the remainder is settled in the second month after the month of purchase.

Problem 1: What amount of November's credit sales will be collected in December?

A. R20 000

B. R17 500

C. R35 000

D. R21 000

Reference no: EM132895836

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