Oakton Furniture provided the following information relevant to its sales for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted)Credit sales$64,000? $144,000? $159,000? $114,000? Cash sales$14,000? $29,000? $34,000? $16,000? Based on the company's collection history, 50% of credit sales are collected in month of sale and the remainder is collected in the following month. Cash collections in January from December credit sales would be:
A. $35,840.
B. $45,320.
C. $32,000.
D. $50,000.
Answer: C
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