allonte Inc. began operations in April of this year. It makes all sales on account, subject to the ollowing collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and une were $66,000, $86,000, and $76,000, respectively, what were the firm's budgeted collections or June? Multiple Choice $22,800. • $65,400. • $74,400. • $81,000. • None of the answers is correct.

allonte Inc. began operations in April of this year. It makes all sales on account, subject to the ollowing collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and une were $66,000, $86,000, and $76,000, respectively, what were the firm's budgeted collections or June? Multiple Choice $22,800. • $65,400. • $74,400. • $81,000. • None of the answers is correct.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...

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