Super Drive is a computer hard-drive manufacturer. The company\'s balance sheet

Question

Super Drive is a computer hard-drive manufacturer. The company's balance sheet for the fiscal year ended on November 30 appears below: Super Drive, Inc. Statement of Financial Position For the year ended November 30 Assets: Cash $52,000 Accounts receivable 150,000 Inventory 315,000 Property, plant, and equipment 1,000,000 Total Assets $1,517,000 Liabilities and stockholders' equity: Accounts payable $175,000 Common stock 900,000 Retained earnings 442,000 Total liabilities and stockholders' equity $1,517,000 Additional information regarding Super Drive's operations appears below:

Explanation / Answer

The budgeted cash collections for the upcoming December should be
A. $208,000.
B. $520,000.
C. $402,000.
D. $462,000.

60% of $520,000   =      $312,000
100% of $150,000   =      $150,000
Total Collection          $462,000

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