Question

hi i was hoping someone could help me solve this problem, ive been on it for hours and can see to get the answer right

Shadee Corp. expects to sell 560 sun visors in May and 360 in June. Each visor sells for $17. Shadee's beginning and ending finished goods inventories for May are 90 and 45 units, respectively. Ending finished goods inventory for June will be 60 units. It expects the following unit sales for the third quarter: Auqust September 500 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 35 percent is collected during the following month, and 15 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) August September Total Cash Receipts

Answer 1

Calculate total cash receipts

	August	September
cash Sales	8500*60% = 5100	7650*60% = 4590
Collection from credit sales
July Sales	9010*40%*35% = 1261
August sales	8500*40%*50% = 1700	1190
September sales		7650*40%*50% = 1530
Total Cash receipt	8061	7310