Ans. | Option B $237,500 | ||
Particulars | Amount | ||
From May sales | $8,500 | ||
From June sales | $91,000 | ||
From July sales | $138,000 | ||
Total cash collection in July | $237,500 | ||
Calculation of Cash collections: | |||
July | |||
From May sales | $170,000 * 5% | ||
From June sales | $260,000 * 35% | ||
From July sales | $230,000 * 60% | ||
*35% of June month's credit sales and 5% of May month's credit sales will receive in | |||
the month of July. | |||
*60% of current month's sales will also receive in July. | |||
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
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Question 15 0.25 points Save Answer Natcher Corporation collects 45% of a month's sales in the month of sale, 40% in the month following sale, and 15% 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 $280,000 $320,000 $400,000 $230,000 The amount of cash that will be collected in November is budgeted...
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