Ballentine Company expects sales for June, July, and August of $48,000, $54,000, and $44,000, respectively. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 50% of its credit sales in the month following sale, 45% in the second month following sale, and 5% are not collected. What are the company's expected cash receipts for August from its current and past sales?
A. $61,160.
B. $29,160.
C. $78,800.
D. $66,200.
E. $46,760.
Answer: E
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A will can be revoked by interlineation
Indicate whether the statement is true or false