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
Budgeted cash collection in the month of June:
Tje following cash receipts are expecting in the month of June:
1. 40% in month of sale:
Here June month budgeted sale is $160,000.
40 % of the budgeted sale of June = $160,000 × 40/100 = $64,000
2. 56% in month following sale:
That means, 56% of the sales amount of month May will receive in the following month, ie, June. May month's budgeted sales is $170,000.
56% of the budgeted sale of May = $170,000 × 56/100 = $95,200
3. 4% in second month following sale:
That means, 4% of the sales amount of month April will receive in the second month following sale, ie, June. April month's budgeted sales is $150,000.
4% of the budgeted sale of April = $150,000 × 4/100 = $6,000
Total.cash collections = $64,000 + $95,200 + $6,000 = $165,200.
Correct answer is a) $165,200.
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of...
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: 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: 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 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
istory Bookmarks Window Help Ch. 8 Quiz-60 minutes Saved The BRS Corporation makes collections on sales according to the following schedule: 308 in month of sale 64% in month following sale 68 in second month following sale 10 points The following sales have been budgeted sales April $130,000 May $140,000 June $130,000 eBook References Budgeted cash collections in June would be: Multiple Choice $130,780 $130,000 S Prev 1 of 10Next 118 Aa QSearch or enter website name
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