55. CSO: 1A4a LOS: 1A4d
Tidwell Corporation sells a single product for $20 per unit. All sales are on account, with
60% collected in the month of sale and 40% collected in the following month. A partial
schedule of cash collections for January through March of the coming year reveals the
following receipts for the period.
Cash Receipts
January February March
December receivables $32,000
From January sales 54,000 $36,000
From February sales 66,000 $44,000
Other information includes the following.
• Inventories are maintained at 30% of the following month’s sales.
• Assume that March sales total $150,000.
The number of units to be purchased in February is
a. 3,850 units.
b. 4,900 units.
c. 6,100 units.
d. 7,750 units.
20
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