The LaPann Corporation Has Obtained the Following Sales Forecast Data

Multiple Choice

The LaPann Corporation has obtained the following sales forecast data: The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.The budgeted cash receipts for October would be:

A) $188,000
B) $248,000
C) $226,000
D) $278,000