Answer: C. $140,300
Explanation:
Cash balance on Sept 1 is $71,500
Sales: $140,000*15%+$140,000
Sales in sept = $21,000+ $140,000
= $161,000
Cash collected Sept =$161,000*30%
= $48,300
Cash collected in sept for August sales = $140,000*70%= $98,000
Purchases Sept = $85,000
Cash purchases = $85,000*25%
= $21,250
Cash purchases in August = $75,000*75%= $56,250
Ending cash bal in Sept = $71,500+ $48,300 + 98,000- $21,250 - 56,250 = $140,300
