Homework Answers
Answer:
Cash receipt in the month of April =$530,000
Working notes for the above answer is as under
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those credit sales: 60% are collected in the month of the sale, 30% in the month...
Altuvie y Bregman sells only on credit to customers, no cash sales. You have been given...
Altuvie y Bregman sells only on credit to customers, no cash sales. You have been given the following information regarding the collection of those credit sales: 60% are collected in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. The table below gives the budgeted sales data for the four months shown Total sales January February March April $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected...
Seventy percent of Pluto Corporation's sales are collected in the month of sale, 20% in the...
Seventy percent of Pluto Corporation's sales are collected in the month of sale, 20% in the month following sale, and 10% in the second month following sale. All sales are on account. The following are budgeted sales data for the company: January February March April Budgeted sales $200,000 $300,000 $350,000 $250,000 Total budgeted cash collections in April would be:
All of Porter Corporation's sales are on account. Seventy percent of the credit sales are collected...
All of Porter Corporation's sales are on account. Seventy percent of the credit sales are collected in the month of sale, 15% in the month following sale, and 10% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data for the company January $576,000 February $620,000 March $680,000 April $824,000 Total sales Cash receipts in April are expected to be $576,800 $678,800 $740,800 $164,000
Cable Co.'s sales are 20% cash and 80% on account. Of the sales on account, 35%...
Cable Co.'s sales are 20% cash and 80% on account. Of the sales on account, 35% are collected in the month of sale, 40% in the following month, and 20% in the second month following sale. The other 5% are uncollectible. Budgeted total sales are shown below. Blank boxes are optional, for calculations. Total cash receipts in March would be budgeted to be 4, Jan Feb. March 500,000 600,000 Budgeted total sales 700,000
Month January February March April Sales $22,000 $26,000 $31,000 $44,000 The company expects 70% of its...
Month January February March April Sales $22,000 $26,000 $31,000 $44,000 The company expects 70% of its sales to be on account credit sales). Credit sales are collected as follows: 25% in the month of sale, 70% in the month following the sale with the remainder being uncollectible and written off. The total cash receipts during April would be: Multiple Choice O $25.200 O O $23.925 $35.090 O
Dayton has forecast sales to be $212,000 in February, $276,000 in March, $297,000 in April, and...
Dayton has forecast sales to be $212,000 in February, $276,000 in March, $297,000 in April, and $315,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 55% in the month of sale, 30% the month following and the remainder two months after the sale. What are budgeted cash receipts in May? Multiple Choice O $172,200 $303,750 O $184,950 $252.450
A company past experience indicates the 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale, the remainder is never collected, budgeted credit sales were: April 80,000; May 48,000; J
A company past experience indicates the 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale, the remainder is never collected, budgeted credit sales were: April 80,000; May 48,000; June 120,000; the cash inflow in the month of June is expected to be.
ACC 112 at Penn Foster Porter corporate sales are on account 60%, credit sales 25%, and...
ACC 112 at Penn Foster Porter corporate sales are on account 60%, credit sales 25%, and 10% in second month. What are cash receipts in april expected to be? Jan 400,000, feb 600,000, march 500000 april 700,000. find correct answer a. 605,000 b.420,000 c. 545,000 d. 185,000
Grover has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. T...
Grover has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following What are budgeted cash receipts in March? Multiple Choice O $135,000 o $131000 O 594,500 Lea Company produces hand tools, Budgeted sales for March are 10,000 units Beginning finished...
Benton Company's sales budget shows the following expected total sales. Help Save Sum Month January February...
Benton Company's sales budget shows the following expected total sales. Help Save Sum Month January February March April Sales $22,000 $26,000 $31,000 $44,000 The company expects 70% of its sales to be on account credit sales). Credit sales are collected as follows: 25% in the month of sale. 70% in the month following the sale with the remainder being uncollectible and written of The total cash receipts during April would be Multiple Choice O $25,200 0 0 $23.925 0 $36.090
Altuvie y Bregman sells only on credit to customers, no cash sales. You have been given the following information regarding the collection of those credit sales: 60% are collected in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. The table below gives the budgeted sales data for the four months shown Total sales January February March April $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected...
All of Porter Corporation's sales are on account. Seventy percent of the credit sales are collected in the month of sale, 15% in the month following sale, and 10% in the second month following sale. The remainder are uncollectible. The following are budgeted sales data for the company January $576,000 February $620,000 March $680,000 April $824,000 Total sales Cash receipts in April are expected to be $576,800 $678,800 $740,800 $164,000
Cable Co.'s sales are 20% cash and 80% on account. Of the sales on account, 35% are collected in the month of sale, 40% in the following month, and 20% in the second month following sale. The other 5% are uncollectible. Budgeted total sales are shown below. Blank boxes are optional, for calculations. Total cash receipts in March would be budgeted to be 4, Jan Feb. March 500,000 600,000 Budgeted total sales 700,000
Month January February March April Sales $22,000 $26,000 $31,000 $44,000 The company expects 70% of its sales to be on account credit sales). Credit sales are collected as follows: 25% in the month of sale, 70% in the month following the sale with the remainder being uncollectible and written off. The total cash receipts during April would be: Multiple Choice O $25.200 O O $23.925 $35.090 O
Dayton has forecast sales to be $212,000 in February, $276,000 in March, $297,000 in April, and $315,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 55% in the month of sale, 30% the month following and the remainder two months after the sale. What are budgeted cash receipts in May? Multiple Choice O $172,200 $303,750 O $184,950 $252.450
Grover has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and $140,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following What are budgeted cash receipts in March? Multiple Choice O $135,000 o $131000 O 594,500 Lea Company produces hand tools, Budgeted sales for March are 10,000 units Beginning finished...
Benton Company's sales budget shows the following expected total sales. Help Save Sum Month January February March April Sales $22,000 $26,000 $31,000 $44,000 The company expects 70% of its sales to be on account credit sales). Credit sales are collected as follows: 25% in the month of sale. 70% in the month following the sale with the remainder being uncollectible and written of The total cash receipts during April would be Multiple Choice O $25,200 0 0 $23.925 0 $36.090
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