Multiple Choice
Ruiz Co.'s budget includes the following credit sales for the current year: September,$145,000; October,$136,000; November,$120,000; December,$157,000.Credit sales are collected as follows: 15% in the month of sale,50% in the first month after sale,and 35% in the second month after sale.How much cash can the company expect to collect in December as a result of current and past credit sales?
A) $23,550.
B) $107,600.
C) $83,550.
D) $157,000.
E) $131,150.
Correct Answer:

Verified
Correct Answer:
Verified
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