Problem - Julia's Candy Co. reports the following information from its sales account and sales budget:
SALES: May.......... $105,000
June......... 93,000
Expected Sales: July....... $90,000
August...... 110,000
September... 120,000
Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:
A. $30,000.
B. $82,500.
C. $112,500.
D. $120,000.
E. $202,500.