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Birch Corporation has the following historical pattern on its credit sales.
70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible
The sales on open account have been budgeted for the first 6 months of the year are as follows:
Sales On Month Open Account January $70,000 February 90,000 March 100,000 April 120,000 May 100,000 June 90,000 The estimated total cash collections during the second calendar quarter from sales made on open account during the second calendar quarter would be
A. $306,900 B. $288,800 C. $262,000 D. $310,000 |