Wisniewski & Keating, Inc. projected sales to be $260,000 in June, $270,000 in July and $300,000 in August.
The company expects to collect 25% of a month's sales in the month of sale, 60% in the month following the sale, and 14% in the second month following the sale. The remaining amounts are expected to be uncollectible. Expected cash collections during the month of August would be:
d. None of the above.
The correct answer is: