Lara Company Has Budgeted the Following Credit Sales During the Current

Multiple Choice

Lara Company has budgeted the following credit sales during the current year: September,$25,000; October,$36,000; November,$30,000; December,$32,000.Experience has shown that payment for the credit sales is received as follows: 15% in the month of sale,60% in the first month after sale,20% in the second month after sale,and 5% is uncollectible.How much cash can Lara Company expect to collect in November as a result of current and past credit sales?

A) $19,700
B) $28,500
C) $30,000
D) $31,100
E) $33,900