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All of Porter Corporation's Sales Are on Account

Question 8

Multiple Choice

All of Porter Corporation's sales are on account.Sixty percent of the credit sales are collected in the month of sale,25% in the month following sale,and 10% in the second month following sale.The remainder are uncollectible.The following are budgeted sales data for the company: All of Porter Corporation's sales are on account.Sixty percent of the credit sales are collected in the month of sale,25% in the month following sale,and 10% in the second month following sale.The remainder are uncollectible.The following are budgeted sales data for the company: Cash receipts in April are expected to be: A) $420,000 B) $545,000 C) $605,000 D) $185,000 Cash receipts in April are expected to be:


A) $420,000
B) $545,000
C) $605,000
D) $185,000

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