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Calculate the cash collections from accounts receivable

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Question - Benjamin Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month.

The cash collections from accounts receivable in October are

a. $270,000.

b. $272,500.

c. $210,000.

d. $218,000.

Reference no: EM132183316

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