Assume a company is preparing a budget for its first two months of operations. During the first month it expects credit

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Assume A Company Is Preparing A Budget For Its First Two Months Of Operations During The First Month It Expects Credit 1 (30.06 KiB) Viewed 8 times

Assume a company is preparing a budget for its first two months of operations. During the first month it expects credit sales of $50,000. The company expects to collect 40% of its credit sales in the month of the sale and 60% in the following month. The company's cash budget for the second month shows total cash collections from credit sales of $54,000. What amount of credit sales is the company expecting for its second month of operations? Multiple Choice $55,000 $60,000 $45,000 $40,000