Homework Answers
| Answer |
| The correct option is B : $49,350 |
| Explanation |
| Budgeted accounts receivable balance on May 31 would be 35% of May Sales i.e. $ 141,000 * 35% = $ 49,350 |
| Therefore |
| The correct option is B : $49,350 |
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Orchard has forecast sales to be $125,000 in February, $144,000 in March $159.000 in April, and...
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...
Ginobili has forecast sales to be $112,200 in February, $154,500 in March, $160.200 in April, and...
Ginobili has forecast sales to be $112,200 in February, $154,500 in March, $160.200 in April, and $178,500 in May. The average cost of goods sold is 70% of sales. 29% of sales are on made on credit the rest are for cash. The sales on credit are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts on credit sales in March collected in March?
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and...
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and $177,600 in May. The average cost of goods sold is 70% of sales. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts on credit sales in March collected in March?
ed COVID 19 Co has forecast sales to be $125,000 in February, $139,000 in March, $159,000...
ed COVID 19 Co has forecast sales to be $125,000 in February, $139,000 in March, $159,000 in April, and $142,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 70% in the month of sale, and 30% the month following. What is the budgeted Accounts Receivable balance on April 30? 50 en Select one: a. $84.600 b. $42,600 C. $45,400 d. $47.700
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
COVID19Co has forecast sales to be $130.000.in February, $144.000 in March, $150.000 in April, and $146,000...
COVID19Co has forecast sales to be $130.000.in February, $144.000 in March, $150.000 in April, and $146,000 in May. The average Cost of goods sold is 80% of sales. All sales are on made onredit and sales are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts in March?
Dayton has forecast sales to be $205,000 in February, $276,000 in March. $295,000 in April, and...
Dayton has forecast sales to be $205,000 in February, $276,000 in March. $295,000 in April, and $319,000 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 Ο Ο 5305,350 Ο O S170,050 Ο Ο 5182,000 Ο Ο 5250.300
Ginobili has forecast sales to be $109,600 in February, $158,100 in March, $163,500 in April, and...
Ginobili has forecast sales to be $109,600 in February, $158,100 in March, $163,500 in April, and $176,600 in May. 60% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month following. What are the total budgeted cash receipts in March?
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and...
Ginobili has forecast sales to be $120,800 in February, $155,100 in March, $160,500 in April, and $177,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 70% in the month of sale, and 30% the month following. What are the total budgeted cash receipts in March?
Shown below are the expected sales for ABC Company: January February March April Sales for Cash...
Shown below are the expected sales for ABC Company: January February March April Sales for Cash $22,000 $19,000 $26,000 $21,000 Sales on Account $118,000 $146,000 $133,000 $127,000 On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remaining 8% are collected two months after the month of sale. Calculate ABC Company's budgeted accounts receivable at April 30.
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...
Ginobili has forecast sales to be $112,200 in February, $154,500 in March, $160.200 in April, and $178,500 in May. The average cost of goods sold is 70% of sales. 29% of sales are on made on credit the rest are for cash. The sales on credit are collected 65% in the month of sale, and 35% the month following. What are budgeted cash receipts on credit sales in March collected in March?
ed COVID 19 Co has forecast sales to be $125,000 in February, $139,000 in March, $159,000 in April, and $142,000 in May. The average cost of goods sold is 70% of sales. All sales are made on credit and sales are collected 70% in the month of sale, and 30% the month following. What is the budgeted Accounts Receivable balance on April 30? 50 en Select one: a. $84.600 b. $42,600 C. $45,400 d. $47.700
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
Dayton has forecast sales to be $205,000 in February, $276,000 in March. $295,000 in April, and $319,000 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 Ο Ο 5305,350 Ο O S170,050 Ο Ο 5182,000 Ο Ο 5250.300
Shown below are the expected sales for ABC Company: January February March April Sales for Cash $22,000 $19,000 $26,000 $21,000 Sales on Account $118,000 $146,000 $133,000 $127,000 On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remaining 8% are collected two months after the month of sale. Calculate ABC Company's budgeted accounts receivable at April 30.
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