ANNCO sells products on account and experiences the following collection schedule:
On December 31, ANNCO reports accounts receivable of $211,500. Of that amount, $162,000 is due from December sales, and $49,500 from November sales. ANNCO is budgeting $170,000 of sales for January. If so, what amount of cash should be collected in January?
A) $129,050
B) $174,500
C) $211,500
D) $228,500

Question

ANNCO sells products on account and experiences the following collection schedule:
 On December 31, ANNCO reports accounts receivable of $211,500. Of that amount, $162,000 is due from December sales, and $49,500 from November sales. ANNCO is budgeting $170,000 of sales for January. If so, what amount of cash should be collected in January?
A) $129,050 
B) $174,500 
C) $211,500 
D) $228,500

Quizplus · Accepted Answer

The Answer of ANNCO sells products on account and experiences the following collection schedule:
 On December 31, ANNCO reports accounts receivable of $211,500. Of that amount, $162,000 is due from December sales, and $49,500 from November sales. ANNCO is budgeting $170,000 of sales for January. If so, what amount of cash should be collected in January?
A) $129,050 
B) $174,500 
C) $211,500 
D) $228,500

ANNCO Sells Products on Account and Experiences the Following Collection