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What were the firms budgeted collections for May

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Reference no: EM132835670

Question - Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern:

-30% are collected in the month of sale;

-60% are collected in the first month after sale;

-10% are collected in the second month after sale.

If sales for April, May, and June were $60,000, $80,000, and $70,000, respectively, what were the firm's budgeted collections for May?

a. 21,000

b. 60,000

c. 69,000

d. 75,000

Reference no: EM132835670

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