September | |
Cash sales | $5000 |
Cash received from credit sales (57755*38%) | 21947 |
Cash received from August sale (50000*59%) | 29500 |
Budgeted cash receipt for September | $56447 |
Question 1 2 pts Crane Company has the following sales data: August September October November December...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,300 August 105,300 Forecast: September 114,800 October 94,300 November 122,900 December 106,300 Based on past experience, it is estimated that 29% of a month’s sales are collected in the month of sale, 48% are collected in the month following the sale, and 9% are collected in the second month following the sale. Required: Calculate the estimated cash...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,100 August 105,100 Forecast: September 114,200 October 94,500 November 121,900 December 107,000 Based on past experience, it is estimated that 24% of a month’s sales are collected in the month of sale, 46% are collected in the month following the sale, and 5% are collected in the second month following the sale. Required: Calculate the estimated cash...
Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000 $616,500 $891,500 $ 745,000 $705,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amoun will accounts receivable be shown?
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...
Wells Company reports the following sales forecast: September $60.000; October $71000; and November, 57 . A Sores are 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 11111 00 WELLS COMPANY Budgeted Cash Receipts For Month Ended November 30 Cash recepts...
Begin operation in September. It has budgeted August sales $73,000, September sales $76,000, October sales $79,000, November sales of $83,000 and December sales $81,000. 15% of each sales are cash sales.80% of the balance will be collected in the month following the sales: 15% in the second month, 8% the third month, and the balance is bad debts. What is the amount of cash to be collected in the month of November? a) $81,554 - b) $79,604 - c) 80,824...
answer with an explanation The following are Best Gulfs estimated sales during September, October, November and December 2019: September $ 15,000 $ 20,000 $ 22,000 $ 25,000 October November December Cash receipts from customers are expected to be %75 in the month of sale and %25 in the month following the sale The company maintains ending inventory of $ 8,000 plus 10 % of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
A company has the following budgeted sales: July $200,000 August $300,000 September $250,000 20% of the sales are for cash, and 80% are on credit. 25% of the credit sales are collected in the month of sale, and 75% are collected the next month. What are the total expected cash receipts during September?