March credit sales collected in March ($170,000 × 40%) | $68,000 |
February credit sales collected in March ($180,000 × 55%) | $99,000 |
January credit sales collected in March ($160,000 × 5%) | $8,000 |
Total cash collections in March | $175,000 |
Problem #2 (show your work!!): 1. Avril Company makes collections on sales according to the following...
5. April Company makes collections on sales according to the following schedule: -30 % in the month of sale -60% in the month following sale -8% in the second month following sale The following sales are expected: Expected sales January $ 100,000 $ 120,000 February March 110,000 Cash collections in March are budgeted to be: A. $110,000 B. $110,800 C. $105,000 D. $113,000
The BRS Corporation makes collections on sales according to the following schedule: 60% in month of sale 37% in month following sale 3% in second month following sale The following sales have been budgeted: April $160,000 May $170,000 June$160,000 Budgeted cash collections in June would be Multiple Choice $160,000 $160,480 $163,700 $158,900
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: April May June Sales $150,000 $170,000 $160,000 Budgeted cash collections in June would be: Multiple Choice $160,600 $165,200 $159,200 $160,000
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: Sales April $ 150,000 May $ 170,000 June $ 160,000 Budgeted cash collections in June would be: Multiple Choice: A) $165,200 B) $159,200 C) $160,600 D) $160,000
2. Koda Corporation makes collections on sales according to the following schedule: 25% in month of sale 65% in month following the sale 5% in second month following the sale 5% uncollectible The following sales have been budgeted: April May June $120,000 $100,000 $110,000 Budgeted cash collections in June would be: A. $27,500 B. $98,500 C. $71,000 D. $115,000 3. The following information was taken from the production budget of Bazinga Corporation for the next quarter. January February March 130,000...
Sunnyvale Corporation makes collections on sales according to the following schedule: 40% in the month of sale 50% in the month after the sale 10% two months after the sale Here are their expected sales for the first quarter: January............$70,000 February..........$50,000 March...............$30,000 How much cash will they collect in the month of March? Group of answer choices: A. $44,000 B. $37,000 C. $42,000 D. $30,000
The BRS Corporation makes collections on sales according to the following schedule: 45% in month of sale 48% in month following sale 7% in second month following sale The following sales have been budgeted: Sales April $ 120,000 May $ 100,000 June $ 140,000 Budgeted cash collections in June would be: Multiple Choice $119,400 $140,000 $140,840 $111,000
The WRT Corporation makes collections on sales according to the following schedule: 30% in month of sale 60% in month following sale 5% in second month following sale 5% uncollectible The following sales have been budgeted: Sales April $ 141,000 May $ 176,000 June $ 163,000 Budgeted cash collections in June would be:
Show work please! Thank you! Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: April $340,000 May $540,000 June $170,000 Budgeted sales (all on account) Total $1,050,000 From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 75% are collected in the...
The BRS Corporation makes collections on sales according to the following schedule: 35% in month of sale 61% in month following sale 4% in second month following sale Skloped The following sales have been budgeted: April May June Sales $120,000 $130,000 $120,000 Budgeted cash collections in June would be: Multiple Choice 0 $126,100 0 $120.000 0 $120.480 0 $121,300