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State budgeted sales for the first three months of business

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Please help me w/the below questions - I cannot figure out the answer!!!

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: EM131774659

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