Homework Answers
| July | August | |
| Credit Sales of May: | ||
| Collected in July (21%) | 51450 | |
| Credit Sales of June: | ||
| Collected in July (47%) | 135360 | |
| Collected in August (21%) | 60480 | |
| Credit sales of July: | ||
| Collected in July (30%) | 92400 | |
| Collected in August (47%) | 144760 | |
| Credit sales of August : | ||
| Collected in August (30%) | 109800 | |
| Total | 279210 | 315040 |
| Cash collections | ||
| July | 279210 | |
| August | 315040 | |
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a month's sales are collected in the month the sale is made, 47 % are collected...
Fox Trail Center's sales are all made on account. The firm's collection experience has been that...
Fox Trail Center's sales are all made on account. The firm's collection experience has been that 30% of a month's sales are collected in the month the sale is made, 47% are collected in the month following the sale, and 21% are collected in the second month following the sale. The sales forecast for the months of May through August is as follows: May June July August $230,000 277,000 315,000 352,000 Required: Calculate the cash collections that would be included...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are credit sales. March $ 32,000 June $ 36,000 April 38,000 July 44,000 May 27,000 August 46,000 Sales in January and February were $35,000 and $34,000 respectively. Experience has shown that 10 percent of total sales are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a....
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...
70 percent collected in the month of sale. 15 percent collected in the first month after...
70 percent collected in the month of sale. 15 percent collected in the first month after sale. 10 percent collected in the second month after sale. 4 percent collected in the third month after sale. 1 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: $130,500 June July August September 158,000 183,000 216,000 241,000 266,000 228,500 October November December Required: 1. Compute the estimated total cash collections during October from credit sales. 2....
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the...
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales $100.000 May budgeted sales $170,000 June budgeted sales $260,000 July budgeted sales $230,000 The amount of cash that will be collected in July is budgeted to be O A. $138,000 O B. $237,500 OC. $204,500 OD. $99,500
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the...
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $100,000 $200,000 $210,000 $160,000 The amount of cash that will be collected in July is budgeted to be O A. $196,500 O B. $190,500 OC. $134,500 O D. $56,000
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the...
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $140,000 $120,000 $230,000 $200,000 The amount of cash that will be collected in July is budgeted to be O A. OB. Oc. OD. $206,500 $120,000 $86,500 $162,500 Click to select your answer
Question: Cash Receipts 25% of sales are in cash and collected in the month the sale...
Question: Cash Receipts 25% of sales are in cash and collected in the month the sale is made and 75% are on credit and collected in the month after the sale. December 2017 sales were $3 million. The sales forecast for 2018 is as follows: January 2,800,000 February 2,500,000 March 3,200,000 April 3,400,000 May 3,600,000 June 3,600,000 July 3,800,000 August 4,000,000 September 3,600,000 October 3,400,000 November 2,800,000 December 2,600,000 Cash Disbursements The disbursements for this firm are as follows: Payments...
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...
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month...
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 July August September October November December 32,000 30,000 35,000 40,000 45,000 50,000 42,500 I Required: A. What would be the estimated total...
Fox Trail Center's sales are all made on account. The firm's collection experience has been that 30% of a month's sales are collected in the month the sale is made, 47% are collected in the month following the sale, and 21% are collected in the second month following the sale. The sales forecast for the months of May through August is as follows: May June July August $230,000 277,000 315,000 352,000 Required: Calculate the cash collections that would be included...
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...
70 percent collected in the month of sale. 15 percent collected in the first month after sale. 10 percent collected in the second month after sale. 4 percent collected in the third month after sale. 1 percent uncollectible. The sales on account have been budgeted for the last seven months as follows: $130,500 June July August September 158,000 183,000 216,000 241,000 266,000 228,500 October November December Required: 1. Compute the estimated total cash collections during October from credit sales. 2....
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales $100.000 May budgeted sales $170,000 June budgeted sales $260,000 July budgeted sales $230,000 The amount of cash that will be collected in July is budgeted to be O A. $138,000 O B. $237,500 OC. $204,500 OD. $99,500
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $100,000 $200,000 $210,000 $160,000 The amount of cash that will be collected in July is budgeted to be O A. $196,500 O B. $190,500 OC. $134,500 O D. $56,000
Distribution Corporation collects 60% of a month's sales in the month of sale, 35% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: April budgeted sales May budgeted sales June budgeted sales July budgeted sales $140,000 $120,000 $230,000 $200,000 The amount of cash that will be collected in July is budgeted to be O A. OB. Oc. OD. $206,500 $120,000 $86,500 $162,500 Click to select your answer
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 July August September October November December 32,000 30,000 35,000 40,000 45,000 50,000 42,500 I Required: A. What would be the estimated total...
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