Homework Answers
Cash collection in November
| October Sales (149000*60%) | 89400 |
| November sales (157000*40%) | 62800 |
| Total collection | 152200 |
So answer is e) $152200
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Help A Junior Snacks reports the following information from its sales budget Expected sales: October November...
Junior Snacks reports the following information from its sales budget: Expected Sales: October $ 136,000 November...
Junior Snacks reports the following information from its sales budget: Expected Sales: October $ 136,000 November 144,000 December 180,000 All sales are on credit and are expected to be collected 35% in the month of sale and 65% in the month following sale. The total amount of cash expected to be received from customers in November is: Multiple Choice $138,800. $88,400. $144,000. $232,400. $50,400.
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Junior Snacks reports the following information from its sales budget: Expected Sales: October $143,000 November 151,000 December 187,000 All sales are on credit and are expected to be collected 40% in the month of sale and 60% in the month following sale. The total amount of cash expected to be received from customers in November is: A. $146,200. B. $85,800. C. $151,000. D. $236,800. E. $60,400.
Wells Company reports the following sales forecast: September, $60,000; October, $75,000; and November, $90,000. All sales...
Wells Company reports the following sales forecast: September, $60,000; October, $75,000; and November, $90,000. All sales are on account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November. WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash receipts from November...
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The following data pertain to activity and costs for two recent months October November Activity level...
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Justin Company's budget includes the following credit sales for the current year: September, $38,000; October, $49,000;...
Justin Company's budget includes the following credit sales for the current year: September, $38,000; October, $49,000; November, $43,000; December, $45,000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 55% in the first month after sale, 22% in the second month after sale, and 3% is uncollectible. How much cash can Justin Company expect to collect in November as a result of current and past credit sales? Multiple Choice $46,710....
Oakton Furniture provided the following information relevant to its sales for December Year 1 and the...
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Wells Company reports the following sales forecast: September, $60,000; October, $75,000; and November, $90,000. All sales are on account. Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible. Prepare a schedule of cash receipts for November. WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash receipts from November...
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