Homework Answers
|
December |
January |
February |
|
|
Sales revenue |
78000 |
103000 |
113000 |
|
Total cash receipts |
|||
|
Credit sales (80%) |
62400 |
82400 |
90400 |
|
Current month collection @ 20% |
12480 |
16480 |
18080 |
|
Collection of next month @50% |
31200 |
41200 |
|
|
Collected in the next month@20% |
12480 |
||
|
Total cash receipts |
71760 |
Answer = 71760
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A company's history indicates that 20% of its sales are for...
Question 43 2 pt A company's history indicates that 20% of its sales are for cash...
Question 43 2 pt A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $60,000, $85,000, and $95,000, respectively. The February expected cash receipts from all current and prior credit sales are $61,200 $57,000 $66,400 $90,250
A company's history indicates that 25% of its sales are for cash and the rest are...
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, and 20% the following month. Projected sales for January, February, and March are $64,000, $89,000 and $99,000, respectively. The March expected cash receipts from current and prior credit sales is:
A company's history indicates that 25% of its sales are for cash and the rest are...
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 25% in the month of the sale, 40% in the next month, and 20% the following month. Projected sales for January, February, and March are $67,000, $92,000 and $102,000, respectively. The March expected cash receipts from all current and prior credit sales is:
A company's history indicates that its collections on sales are 30% in the month of the...
A company's history indicates that its collections on sales are 30% in the month of the sale, 50% in the next month, and 15% the following month, with the remaining 5% typically ending up as bad debts. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior sales is: Select one: O A. $80,000 O B. $90,250 C. $63,080 D. $57,000 o E. $64,000
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Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) i Click the icon to view the collections data.) The company's sales are 20 % cash and 80 % credit How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate the following items (1) through (10). Sales .. August $500,000 September October November $525,000 $535,000 $550,000 October November (6) Receipts from cash sales Collections from August credit sales (2) Collections from September...
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
Type your answer in the box. A merchandising company's sales budget indicates the following sales: January:...
Type your answer in the box. A merchandising company's sales budget indicates the following sales: January: $30,000: February $20,000: March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month, following the sale. The total cash receipts collected during March will be $ __________.
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....
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
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A company's history indicates that its collections on sales are 30% in the month of the sale, 50% in the next month, and 15% the following month, with the remaining 5% typically ending up as bad debts. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior sales is: Select one: O A. $80,000 O B. $90,250 C. $63,080 D. $57,000 o E. $64,000
Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) i Click the icon to view the collections data.) The company's sales are 20 % cash and 80 % credit How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate the following items (1) through (10). Sales .. August $500,000 September October November $525,000 $535,000 $550,000 October November (6) Receipts from cash sales Collections from August credit sales (2) Collections from September...
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
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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