Blooming Products Inc sells flower bulbs to local nurseries. Each bag of bulbs sells for $2. The company's accountant has prepared the following sales forecast (in bags) for the fourth quarter of 2013: October 5,000 bags November 9,000 bags December 8,000 bags Historically, the cash collection of sales has been as follows: 50 percent in the month of sale, 40 percent in the month following sale,
and 10 percent in the second month following sale. Cash receipts for December are expected to be:
A) $13,800
B) $ 8,000
C) $16,200
D) $ 8,100
C
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