B.

Bugay Industries, a defense contractor, is developing a

October, November, and December. Jungaya’s sales in A
September were PHP100,000 and PHP200,000 respectiv
PHP400,000, PHP300,000, and PHP200,000 have been f
October, November, and December respectively.

Historically, 20% of the firm’s sales have been for ca

generated accounts receivable collected after 1 mont
remaining 30% have generated accounts receivable c
months. In December, the firm will receive a PHP30
from stock in a subsidiary
 developing a cash budget for
a’s sales in August and
00 respectively. Sales of
0 have been forecast for
vely.

e been for cash, 50% have

fter 1 month, and the
receivable collected after 2
ve a PHP30,000 dividend