(Answered) Question - oscorp makes all sales on account subject to the

Accounting

Question - Oscorp makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after the sale; and 10% are collected in the second month after the sale. If sales for October, November and December were $70,000, $60,000 and $50,000, respectively, what were the firm's budgeted collections for December?

$46,000

$10,000

$59,000

$52,000

None of the above

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