Homework Answers
| Cash collected in November | |
| September sales | 260000*10%= 26000 |
| October sales | 400000*40%= 160000 |
| November sales | 220000*40%=88000 |
| Cash collected in November | 274000 |
Correct option is "C"-274000
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Question 15 0.25 points Save Answer Natcher Corporation collects 45% of a month's sales in the month of sale, 40% in th...
Question 15 0.25 points Save Answer Natcher Corporation collects 45% of a month's sales in the month of sale, 40% in the month following sale, and 15% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are: August budgeted sales September budgeted sales October budgeted sales November budgeted sales $280,000 $320,000 $400,000 $230,000 The amount of cash that will be collected in November is budgeted...
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A Company collects 20% of a month’s sales in the month of sale,
70% in the month following sale, and 6% in the second month
following sale. The remainder is uncollectible. Budgeted sales for
the next four months are: Cash collections in April are budgeted to
be:
A) $313,000
B) $292,000
C) $321,000
D) $320,000
Budgeted sales January $200,000 February $300,000 March $350,000 April $250,000
During the last week of August, Oneida Company's owner approaches the bank for a $108,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,240. The owner plans to increase the store's inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank's loan officer needs more information about Oneida's ability to repay the loan and asks the owner to forecast the...
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