Kam Department Store reported the following information for 2022:
October
November
December
Budgeted sales
$1240000 $1160000 $1440000
All sales are on credit.
Accounts receivable are collected 50% in the month of sale and 50% in the following month.
What are budgeted cash receipts for November?
a. $580,000
b. $630,000
c. $660,000
d. $700,000
