The LaPann Corporation has obtained the following sales forecast data: JulyAugustSeptemberOctoberCash sales$80,000 $70,000 $50,000$60,000Credit sales$240,000 $220,000 $180,000$200,000The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.The budgeted cash receipts for October would be:
A. $188,000
B. $226,000
C. $278,000
D. $248,000
Answer: D
Business
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