Homework Answers
| December | |
| Cash collection from sales : | |
| 50% of December sales ( 50% * 97500 ) | 48750 |
| 35% of November sales ( 35% * 112000 ) | 39200 |
| 15% of October sales ( 10% * 150000 ) | 15000 |
| Total cash collected in December | 102950 |
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Your Health clinic collects 50% of credit sales in the month of sale, 35% in the...
Natcher Corporation collects 35% of a month's sales in the month of sale, 40% in the...
Natcher Corporation collects 35% of a month's sales in the month of sale, 40% in the month following sale, and 20% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $340,000 $350,000 $360,000 $250,000 The amount of cash that will be collected in November is budgeted to be O A. $301,500 O...
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the...
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $100,000 $200,000 $210,000 $160,000 The amount of cash that will be collected in July is budgeted to be O A. $196,500 O B. $190,500 OC. $134,500 O D. $56,000
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the...
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales $100.000 May budgeted sales $170,000 June budgeted sales $260,000 July budgeted sales $230,000 The amount of cash that will be collected in July is budgeted to be O A. $138,000 O B. $237,500 OC. $204,500 OD. $99,500
McEwen Company has budgeted the following credit sales during the last four months of the year:...
McEwen Company has budgeted the following credit sales during the last four months of the year: September, $11,000; October, $23,000: November $24,000; December, $36,000. Experience has shown that payment for the credit sales is received as follows: 30% in the month of sale, 55% in the first month after sale, 10% in the second month after sale, and 5% uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales? O A $20,950...
Hatcher Corporation collects 60% of a month's sales in the month of sale, 30% in the...
Hatcher Corporation collects 60% of a month's sales in the month of sale, 30% in the month following, sale, 39 in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: $310.000 August budected sales September budgeted sales October budected sales November budgeted sales $230,000 What is the amount of cash budgeted to be collected in November?
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the...
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $140,000 $120,000 $230,000 $200,000 The amount of cash that will be collected in July is budgeted to be O A. OB. Oc. OD. $206,500 $120,000 $86,500 $162,500 Click to select your answer
East Company budgeted the following credit sales during the current year: August $85,000 September, $100,000; October,...
East Company budgeted the following credit sales during the current year: August $85,000 September, $100,000; October, $108,000; November, $80,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 20% in the month of sale, 60% in the first month after sale, 16% in the second month after sale, and 4% is uncollectible. All collections in the month of sale are subject to 1 percent cash discount. How much total cash can East Company expect to...
East Company budgeted the following credit sales during the current year: August $90,000 September, $100,000; October,...
East Company budgeted the following credit sales during the current year: August $90,000 September, $100,000; October, $108,000; November, $80,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 10% in the month of sale, 60% in the first month after sale, 26% in the second month after sale, and 4% is uncollectible. All collections in the month of sale are subject to 1 percent cash discount. Required: How much total cash can East Company expect...
Sharon Corporation collects 10% in the second month following sale, 40% in the month following sale and 40% of a mo...
Sharon Corporation collects 10% in the second month following sale, 40% in the month following sale and 40% of a month's sales in the month of sale. The company has found that 10% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $350,000 $260.000 $400.000 $220,000 The amount of cash that will be collected in November is budgeted to be O A. $198,000 OB....
McEwen Company has budgeted the following credit sales during the last four months of the year:...
McEwen Company has budgeted the following credit sales during the last four months of the year: September, $14,000; October, $20,000; November $16,000; December, $33,000. Experience has shown that payment for the credit sales is received as follows: 30% in the month of sale, 55% in the first month after sale, 10% in the second month after sale, and 5% uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales? A. $18,850 B....
Natcher Corporation collects 35% of a month's sales in the month of sale, 40% in the month following sale, and 20% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $340,000 $350,000 $360,000 $250,000 The amount of cash that will be collected in November is budgeted to be O A. $301,500 O...
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $100,000 $200,000 $210,000 $160,000 The amount of cash that will be collected in July is budgeted to be O A. $196,500 O B. $190,500 OC. $134,500 O D. $56,000
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales $100.000 May budgeted sales $170,000 June budgeted sales $260,000 July budgeted sales $230,000 The amount of cash that will be collected in July is budgeted to be O A. $138,000 O B. $237,500 OC. $204,500 OD. $99,500
McEwen Company has budgeted the following credit sales during the last four months of the year: September, $11,000; October, $23,000: November $24,000; December, $36,000. Experience has shown that payment for the credit sales is received as follows: 30% in the month of sale, 55% in the first month after sale, 10% in the second month after sale, and 5% uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales? O A $20,950...
Hatcher Corporation collects 60% of a month's sales in the month of sale, 30% in the month following, sale, 39 in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: $310.000 August budected sales September budgeted sales October budected sales November budgeted sales $230,000 What is the amount of cash budgeted to be collected in November?
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $140,000 $120,000 $230,000 $200,000 The amount of cash that will be collected in July is budgeted to be O A. OB. Oc. OD. $206,500 $120,000 $86,500 $162,500 Click to select your answer
Sharon Corporation collects 10% in the second month following sale, 40% in the month following sale and 40% of a month's sales in the month of sale. The company has found that 10% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $350,000 $260.000 $400.000 $220,000 The amount of cash that will be collected in November is budgeted to be O A. $198,000 OB....
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