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What is the cash collection budget for the month of January

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Reference no: EM133005850

Question - TechWorks a manufacturer of smartphones has projected sales of $800,000 in November, $1,000,000 in December, and $950,000 in January. TechWorks' sales are 50% cash and 50% credit. If the company's collection history indicates that credit sales are collected 20% in the month of sales, 70% in the month after the sale, 8% two months after the sale and 2% are never collected, what is the cash collection budget for the month of January?

a. $952,000

b. $477,000

c. $827,000

d. $859,000

Reference no: EM133005850

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