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Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began...

Use the information below for Nuthatch Corporation to answer the question that follow.

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business—September, October, and November—are $232,000, $307,000, and $424,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be

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Answer #1

correct option is "b"-280420

If 30% of merchandise sold is for cash then remaining 100-30 =70% if on credit .

Cash collections in November
Credit sales collections
October sales (307000*70%= 214900*20%) 42980
November sales (424000*70%= 296800*80%) 237440
Total cash collections in November from account receivable 280420
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