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Wells Company reports the following sales forecast: September, $60,000; October, $75,000; and November, $90,000. All sales...
Wells Company reports the following sales forecast: September $60.000; October $71000; and November, 57 . A...
Wells Company reports the following sales forecast: September $60.000; October $71000; and November, 57 . A Sores are account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November 11111 00 WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash recepts...
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...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,300 August 105,300 Forecast: September 114,800 October 94,300 November 122,900 December 106,300 Based on past experience, it is estimated that 29% of a month’s sales are collected in the month of sale, 48% are collected in the month following the sale, and 9% are collected in the second month following the sale. Required: Calculate the estimated cash...
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...
Budgeted sales in Washburn Company over the next four months are given below: September October November...
Budgeted sales in Washburn Company over the next four months are given below: September October November December Budgeted sales $100,000 $160,000 $180,000 $120,000 Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,100 August 105,100 Forecast: September 114,200 October 94,500 November 121,900 December 107,000 Based on past experience, it is estimated that 24% of a month’s sales are collected in the month of sale, 46% are collected in the month following the sale, and 5% are collected in the second month following the sale. Required: Calculate the estimated cash...
Please make sure the answer is correct 100% and to solve all parts clearly Tiara Company...
Please make sure the answer is
correct 100% and to solve all parts clearly
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October...
Graham Potato Company has projected sales of $12,600 in September, $15,500 in October, $22,600 in November,...
Graham Potato Company has projected sales of $12,600 in September, $15,500 in October, $22,600 in November, and $18,600 in December. Of the company's sales, 25 percent are paid for by cash and 75 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November,...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November, and $16,800 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are...
Wells Company reports the following sales forecast: September $60.000; October $71000; and November, 57 . A Sores are account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November 11111 00 WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash recepts...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
Please make sure the answer is
correct 100% and to solve all parts clearly
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October...
Graham Potato Company has projected sales of $12,600 in September, $15,500 in October, $22,600 in November, and $18,600 in December. Of the company's sales, 25 percent are paid for by cash and 75 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are...
Graham Potato Company has projected sales of $10,800 in September, $14,000 in October, $20,800 in November, and $16,800 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are...
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