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Information pertaining to Noskey Corporation's sales revenue is presented in the following table.
Management estimates that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. Purchases of inventory are equal to next month's sales and gross profit margin is 30%. All purchases of inventory are on account; 25% are paid in the month of purchase, and the remainder are paid in the month following the purchase. Noskey Corporation's budgeted cash collections in December Year 1 from November Year 1 credit sales areA. $136,800 B. $91,200 C. $228,000 D. $84,000 |