Reference: 20_02
Julia's Candy Co Cash Sales Are Normally 25% of Total Sales and All

Multiple Choice

Reference: 20_02
Julia's Candy Co. reports the following information from its sales account and sales budget:
$\begin{array}{llr}\text { Sales } & \text { May } & \$ 105,000 \\& \text { June } & 93,000 \\& & \\\text { Expected } & \text { July } & \$ 90,000 \\\text { Sales: } & & \\& \text { August } & 110,000 \\& \text { September } & 120,000\end{array}$
Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale.
-Based on the information from Julia's,the total amount of cash expected to be received from customers in July is:

A) $69,750
B) $90,000
C) $92,250
D) $22,500
E) $115,500