Reference no: EM132547764

Fiscal Company has the following sales budget for the last six months of 20X5:

July $100,000 October $ 90,000

August 80,000 November 100,000

September 110,000 December 94,000

Historically, the cash collection of sales has been as follows:

65% of sales collected in the month of sale,

25% of sales collected in the month following the sale,

8% of sales collected in the second month following the sale, and

2% of sales are uncollectible.

Question 1: Cash collections for September are ?

A) $71,500

B) $86,700

C) $99,500

D) $102,000