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Answer the Following Questions Using the Information Below:
Footscray Company

Question 55

Multiple Choice

Answer the following questions using the information below:
Footscray Company has the following sales budget for the last six months of 2018:
 July $100000 October $90000 August 80000 November 100000 September 110000 December 94000\begin{array} { l r l r } \text { July } & \$ 100000 & \text { October } & \$ 90000 \\\text { August } & 80000 & \text { November } & 100000 \\\text { September } & 110000 & \text { December } & 94000\end{array} Historically,the cash collection of sales has been as follows:
65% of sales collected in the month of sale
25% of sales collected in the month following the sale
8% of sales collected in the second month following the sale
2% of sales are uncollectible
-Cash collections for September are:


A) $102 000.
B) $86 700.
C) $99 500.
D) $71 500.

Correct Answer:

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