The accountant of the Anderson Company has developed the following collection pattern, as all sales are on credit: 70% of the company's sales are collected in the same month as the sale, 20% are collected in the next month, and 10% in the month after that. The budgeted sales for the company are: July $200,000, August $300,000, September $350,000, and October $250,000. The cash collections for October are going to be
Multiple Choice
$175,000
$275,000
$70,000
$30,000
The accountant of the Anderson Company has developed the following collection pattern,as all sales are on credit:70% of the company's sales are collected in the same month as the sale,20% are collected in the next month,and 10% in the month after that.The budgeted sales for the company are:July $200.000,August $300,000,September $350,000,and October $250,000.The cash collections for October are going to be
Multiple Choice
$175,000
$275,000
$70,000
$30,000