72. CSO: 1A4b LOS: 1A4x
Brown Company estimates that monthly sales will be as follows.
January $100,000
February 150,000
March 180,000
Historical trends indicate that 40% of sales are collected during the month of sale, 50%
are collected in the month following the sale, and 10% are collected two months after the
sale. Brown’s accounts receivable balance as of December 31 totals $80,000 ($72,000
from December’s sales and $8,000 from November’s sales). The amount of cash Brown
can expect to collect during the month of January is
a. $76,800.
b. $84,000.
c. $108,000.
d. $133,000.
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