[The following information applies to the questions displayed below.]
On October 1 of the current year,Molloy Corporation prepared a cash budget for October,November,and December.All of Molloy's sales are made on account.The following information was used in preparing estimated cash collections:
Approximately 60% of all sales are collected in the month of the sale,30% is collected in the following month,and 10% is collected in the month thereafter.
-Budgeted collections from customers in December total:
A)$55,000.
B)$60,000.
C)$64,000.
D)$59,000.

Question

[The following information applies to the questions displayed below.]
On October 1 of the current year,Molloy Corporation prepared a cash budget for October,November,and December.All of Molloy's sales are made on account.The following information was used in preparing estimated cash collections:
  Approximately 60% of all sales are collected in the month of the sale,30% is collected in the following month,and 10% is collected in the month thereafter.
-Budgeted collections from customers in December total:
A)$55,000. 
B)$60,000. 
C)$64,000. 
D)$59,000.

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The Answer of [The following information applies to the questions displayed below.]
On October 1 of the current year,Molloy Corporation prepared a cash budget for October,November,and December.All of Molloy's sales are made on account.The following information was used in preparing estimated cash collections:
  Approximately 60% of all sales are collected in the month of the sale,30% is collected in the following month,and 10% is collected in the month thereafter.
-Budgeted collections from customers in December total:
A)$55,000. 
B)$60,000. 
C)$64,000. 
D)$59,000.

[The Following Information Applies to the Questions Displayed Below