Transcribed Image Text: All of Gaylord Corporation’s sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following

Transcribed Image Text: All of Gaylord Corporation’s sales are on account. Thirty-five percent of the sales on
account are collected in the month of sale, 45% in the month following sale, and the
remainder are collected in the second month following sale. The following are budgeted
sales data for the company:
January
February
March
April
$30,000
Total sales
$50,000
$60,000
$40,000
is the amount of cash that should be collected in March?
A) $41,000
B) $51,000
C) $24,000
D) $37,000

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