Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year 1Jan. Year 2Feb. Year 2Mar. Year 2 (Actual)(Budgeted)(Budgeted)(Budgeted)Credit sales$120,000 $280,000 $310,000 $220,000 Cash Sales$20,000 $50,000 $60,000 $24,000  Based on the company's collection history, 42% of credit sales are collected in month of sale and the remainder is collected in the following month. Total budgeted cash receipts in February are expected to be:

A. $228,000.
B. $352,600.
C. $60,000.
D. $162,400.


Answer: B

Business

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