Solved

Blooming Products Inc Historically,the Cash Collection of Sales Has Been as Follows: 50

Question 80

Multiple Choice

Blooming Products Inc.sells flower bulbs to local nurseries.Each bag of bulbs sells for $2.The company's accountant has prepared the following sales forecast (in bags) for the fourth quarter of 2009:
 October 5000 bags  November 9000 bags  December 8000 bags \begin{array}{ll}\text { October } & 5000 \text { bags } \\\text { November } & 9000 \text { bags } \\\text { December } & 8000 \text { bags }\end{array}
Historically,the cash collection of sales has been as follows: 50 per cent in the month of sale,40 per cent in the month following sale,and 10 per cent in the second month following sale.
Cash receipts for December are expected to be:


A) $13 800
B) $ 8000
C) $16 200
D) $ 8100

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions