Air corporation has the following projected sales: P958,450.00 (October) P1,001,515.00 (November) P1,200,000.00 (December). Air corporation collects 50% of the month's sales in the month of sales, 35% in the month following sale, and 15% in the second month following the sale. What would be the cash collection in December? A) P143,767.50 B P2,294,298.00 P1,837,730.00 P2,201,515.00

Air corporation has the following projected sales: P958,450.00 (October) P1,001,515.00 (November) P1,200,000.00 (December). Air corporation collects 50% of the month's sales in the month of sales, 35% in the month following sale, and 15% in the second month following the sale. What would be the cash collection in December? A) P143,767.50 B P2,294,298.00 P1,837,730.00 P2,201,515.00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...

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