A company past experience indicates the 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale, the remainder is never collected, budgeted credit sales were: April 80,000; May 48,000; J
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A company past experience indicates the 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale, the remainder is never collected, budgeted credit sales were: April 80,000; May 48,000; J
Casa Development, Inc. has budgeted sales revenues as follows: January February March April May June Budgeted...
Casa Development, Inc. has budgeted sales revenues as follows: January February March April May June Budgeted Sales Revenues $55,000 75,000 90,000 80,000 60,000 35,000 Past experience has indicated that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. The other 5% is uncollectible. Prepare a schedule which shows expected cash...
The following credit sales are budgeted by ELO Company January 551000 February $75.000 March $505.000 April...
The following credit sales are budgeted by ELO Company January 551000 February $75.000 March $505.000 April $90.000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of 205 month following the sale and in the second month following the sale. The anticipated cash inflow for the month of Aprilis M Choice
those credit sales: 60% are collected in the month of the sale, 30% in the month...
those credit sales: 60% are collected in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. The table below gives the budgeted sales data for the four months shown. January February March April Total sales $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected to be: Multiple Choice o $530,000 O $260.000 Saved Hel Multiple Choice o $530,000 o $360,000 o $460,000 o $410,000
the company's sales budget for the second quarter given below: Budgeted sales (all on account) April...
the company's sales budget for the second quarter given below: Budgeted sales (all on account) April $360,000 May $560,000 June $220,000 Total $1,140,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $290,000, and March sales totaled...
A company determined that the budgeted cost of producing a product is $30 per unit. On...
A company determined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 80,000 units on hand, the sales department budgeted sales of 300,000 units in June, and the company desires to have 120,000 units on hand on June 30. The budgeted cost of goods manufactured for June would be ________________ 18. A company has budgeted direct materials purchases of $300,000 in July and $480,000 in August. Past experience indicates that the company...
the company’s sales budget for the second quarter given below: April May June Total Budgeted sales...
the company’s sales budget for the second quarter given below: April May June Total Budgeted sales (all on account) $320,000 $520,000 $180,000 $1,020,000 From past experience, the company has learned that 30% of a month’s sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 5% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $250,000, and March sales totaled...
QD2. XX company has budgeted sales revenues as follows: Budgeted Sales Revenues January $55,000 February 75,000...
QD2. XX company has budgeted sales revenues as follows: Budgeted Sales Revenues January $55,000 February 75,000 March 90,000 April 80,000 May 60,000 June 35,000 If you know that all sales each month are on credit. Past experience indicates that collection of credit sales occurs as follows: 60% in the month of sale, 40% in the month following the sale. Assume no Accounts Receivable on January 1st. The total cash receipt in February is: $ ....
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition,...
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $11,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April May June Cash receipts from: Total cash receipts
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
January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000...
January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 48,000 $160,000 $ 43,000 $128,000 $ 53,000 $230,000 $110,000 $220,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 50% in month of sale 40% in month following sale 10% in second month following sale The accounts receivable balance on...
Casa Development, Inc. has budgeted sales revenues as follows: January February March April May June Budgeted Sales Revenues $55,000 75,000 90,000 80,000 60,000 35,000 Past experience has indicated that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 30% in the month following the sale, and 5% in the second month following the sale. The other 5% is uncollectible. Prepare a schedule which shows expected cash...
The following credit sales are budgeted by ELO Company January 551000 February $75.000 March $505.000 April $90.000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of 205 month following the sale and in the second month following the sale. The anticipated cash inflow for the month of Aprilis M Choice
those credit sales: 60% are collected in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. The table below gives the budgeted sales data for the four months shown. January February March April Total sales $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected to be: Multiple Choice o $530,000 O $260.000 Saved Hel Multiple Choice o $530,000 o $360,000 o $460,000 o $410,000
the company's sales budget for the second quarter given below: Budgeted sales (all on account) April $360,000 May $560,000 June $220,000 Total $1,140,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $290,000, and March sales totaled...
QD2. XX company has budgeted sales revenues as follows: Budgeted Sales Revenues January $55,000 February 75,000 March 90,000 April 80,000 May 60,000 June 35,000 If you know that all sales each month are on credit. Past experience indicates that collection of credit sales occurs as follows: 60% in the month of sale, 40% in the month following the sale. Assume no Accounts Receivable on January 1st. The total cash receipt in February is: $ ....
X-Tel budgets sales of $80,000 for April, $88,000 for May, and $40,000 for June In addition, sales are 60% cash and 40% on credit. All credit sales are collected in the month following the sale. The April 1 balance in accounts receivable is $11,000. Prepare a schedule of budgeted cash receipts for April, May, and June. X-TEL Cash Receipts Budget For April, May, and June April May June Cash receipts from: Total cash receipts
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
January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 48,000 $160,000 $ 43,000 $128,000 $ 53,000 $230,000 $110,000 $220,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 50% in month of sale 40% in month following sale 10% in second month following sale The accounts receivable balance on...
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