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ANNCO Sells Products on Account and Experiences the Following Collection

Question 10

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ANNCO sells products on account and experiences the following collection schedule:
ANNCO sells products on account and experiences the following collection schedule:   On December 31, ANNCO reports accounts receivable of $211,500. Of that amount, $162,000 is due from December sales, and $49,500 from November sales. ANNCO is budgeting $170,000 of sales for January. If so, what amount of cash should be collected in January? A)  $129,050 B)  $174,500 C)  $211,500 D)  $228,500 On December 31, ANNCO reports accounts receivable of $211,500. Of that amount, $162,000 is due from December sales, and $49,500 from November sales. ANNCO is budgeting $170,000 of sales for January. If so, what amount of cash should be collected in January?


A) $129,050
B) $174,500
C) $211,500
D) $228,500

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