Junior Snacks reports the following information from its sales budget: Expected Sales: October $143,000 November 151,000...
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. |
Homework Answers
Correct answer------------(A) $146,200.
Working
| Collection from October sales (60% of October sales) [14300 x 60%] | $ 85,800.00 |
| Collection from November sales (40% of November sales) [151000 x 40%] | $ 60,400.00 |
| Total collection in November | $ 146,200.00 |
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Junior Snacks reports the following information from its sales
budget:
Expected
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October
$143,000
November
151,000...
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