For the following questions, circle the best response.
Dax, Inc., collects its accounts receivable as follows: 30% in the month of sale, 60% in the next month, and 8% in the second month after the sale; 2% are uncollectible. Budgeted sales for the next four months are March, $16,000; April, $22,000; May, $19,000; and June, $23,000. Budgeted collections for June are
a. $20,060.
b. $20,380.
c. $21,260.
d. $21,380.
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