Management expects to sell 7 comma 1007,100 cases of water in AugustAugust and 9 comma 0009,000...
Management expects to sell
7 comma 1007,100
cases of water in
AugustAugust
and
9 comma 0009,000
cases in
SeptemberSeptember.
Each case sells for
$ 14$14.
Cash sales average
2020%
of total sales, and credit sales make up the rest. Three-fourths of credit sales are collected in the month of sale, with the balance collected the following month.
|
b. |
The amount of cash receipts the company will budget for the collection of sale revenue is $ |
Homework Answers
| Cash sale of September (9000*$14*20%) | $25200 |
| Credit sale of September (9000*$14*80%*3/4) | 75600 |
| Credit sale of August (7100*$14*80%*1/4) | 19880 |
| Total cash receipts for September | $120680 |
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Management expects to sell
7 comma 1007,100
cases of water in
AugustAugust
and
9 comma 0009,000...
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