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What the anticipated cash inflow for the month of August

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Reference no: EM133051021

Question - The following credit sales are budgeted by Sheffield Corp.:

May $504600

June 742000

July 1038800

August 890400

The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. What the anticipated cash inflow for the month of August?

A. $831,040.

B. $872,600.

C. $890,400.

D. $915,928.

Reference no: EM133051021

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