79. CSO: 1A4b LOS: 1A4x
ANNCO sells products on account, and experiences the following collection schedule.
In the month of sale 10%
In the month after sale 60%
In the second month after sale 30%
At December 31, ANNCO reports accounts receivable of $211,500. Of that amount,
$162,000 is due from December sales, and $49,500 from November sales. ANNCO is
budgeting $170,000 of sales for January. If so, what amount of cash should be collected
in January?
a. $129,050.
b. $174,500.
c. $211,500.
d. $228,500.
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