Compute the total sales revenues for the month of january

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Question 1: Pigskin Inc. produces and sells leather handbags. Sales are 40% in cash and 60% on account. Cash from sales on account is collected 50% in the month of sale and 50% in the month following. In February, Pigskin has total sales revenue of $80,000 and total cash collections of $86,000. Compute the total sales revenues for the month of January.

Group of answer choices

Option 1: None of the other answers are correct

Option 2: $100,000

Option 3: $110,000

Option 4: $60,000

Option 5: $30,000

Reference no: EM132572077

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