Solution
December | January | |
Cash sales | $ 210,000.00 | $ 185,200.00 |
Collection of Credit sales: | ||
25% of current month credit sales | $ 210,000.00 | $ 185,200.00 |
60% of prior month credit sales | $ 462,720.00 | $ 504,000.00 |
14% of credit sales two months ago | $ 100,800.00 | $ 107,968.00 |
Total collection of credit sales | $ 773,520.00 | $ 797,168.00 |
Total cash collections | $ 983,520.00 | $ 982,368.00 |
Working
Trever Reeds | ||||
Sales Budget | ||||
For the Four month Ended January | ||||
October | November | December | January | |
Cash sales | $ 180,000 | $ 192,800 | $ 210,000 | $ 185,200 |
Credit sales | $ 720,000 | $ 771,200 | $ 840,000 | $ 740,800 |
Total sales | $ 900,000 | $ 964,000 | $ 1,050,000 | 926000 |
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000...
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,050,000 in December, and $926,000 in January. Trever's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be 5894,000 in October, 5960,000 in November, $1,025,000 in December, and 5924,000 in January. Trover's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 145 two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Gustev Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,060,000 in December, and $930,000 in January. Gustev's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 65% in the month after the sale 8% two months after the sale 2% are never collected Requirements 1. Prepare a sales budget for all...
Rovniak Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $900,000 in October, $964,000 in November, $1,055,000 in December, and $938,000 in January. Rovniak's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
please print clearly. thanks! Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, 1954.000 in November 51.055,000 in December, and $24,000 in January. Trever's sales are 25% cash and 75% crd The company's collection history indicates that credt sales are collected as follows: 20% in the month of the sale 60% in the month after the sale 12% two months after the sale are never collected Requirements 1. Prepare a sales...
%E9-31A (similar to) Question Help Trever Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $908,000 in October, 5966,000 in November, $1,070,000 in December, and $920,000 in January, Trever's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% are never collected Requirements 1. Prepare...
Ahmed Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $896,000 in October, $960,000 in November, $1,055,000 in December, and $938,000 in January. Ahmed's sales are 20% cash and 80% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Yung Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $892,000 in October, $958,000 in November, $1,030,000 in December, and $926,000 in January. Yung's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $894,000 in October, $950,000 in November, $1,060,000 in December, and $920,000 in January. Serdnic's sales are 30% cash and 70% credit. The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all...
Ahmed Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be S902.000 in October, $962,000 in November, $1,030.000 in December, and $922,000 in January Ahmed's sales are 25 % cash and 75 % credt. The company's collection history indicates that credit sales are collected as folows 20% in the month of the sale 65% in the month after the sale 12% two months after the sale 3% are never collected Requirements 1. Prepare a sales budget...