Refer to the information provided for Benjamin Corporation.The cash collections from accounts receivable in November are:
A)$305,200.
B)$294,000.
C)$235,200.
D)$381,500.

Question

Quizplus · Accepted Answer

According to the information provided, the company expects to collect 75% of its sales in the month of the sale, and the remaining 25% in the following month. 
In November, the company's sales were $406,933 ($436,000 - $29,067). 
Therefore, the amount that the company expects to collect in November is: 
($406,933 x 75%) = $305,200. 
Hence, the correct answer is option A).

Refer to the Information Provided for Benjamin Corporation