Expected receipts in March
= March sales (95,000*30%) + February sales (85,000*50%) + January sales (60,000*15%)
= 28,500 + 42,500 + 9000
= 80,000
Option A is the answer
A company's history indicates that its collections on sales are 30% in the month of the...
Question 43 2 pt A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $60,000, $85,000, and $95,000, respectively. The February expected cash receipts from all current and prior credit sales are $61,200 $57,000 $66,400 $90,250
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, and 20% the following month. Projected sales for January, February, and March are $64,000, $89,000 and $99,000, respectively. The March expected cash receipts from current and prior credit sales is:
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 25% in the month of the sale, 40% in the next month, and 20% the following month. Projected sales for January, February, and March are $67,000, $92,000 and $102,000, respectively. The March expected cash receipts from all current and prior credit sales is:
please provide answer wirh explanation
A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale. 50% in the next month, 20% the following month, and 10% is uncollectible. Projected sales for December, January, and February are $78,000, $103,000 and $113,000, respectively. The February expected cash receipts from all current and prior credit sales is Multiple Choice О 560460 O $71760...
Big Corporation collections history of sales is 30% in the month of sale, 60% in the month following the month of sale, and 10% in the second month following sales. Big Corporation’s sales for September are projected to be $60.00, for October, $100.00, for November, $120.00 and for December, $90.00. What are Big Corporation’s projected cash collections for the month of December?
Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) i Click the icon to view the collections data.) The company's sales are 20 % cash and 80 % credit How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in...
Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th?Exercise 8-1 Schedule of Expected Cash Collections [LO8-2] Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: AprilMayJuneTotalBudgeted sales (all on account)$300,000$500,000$200,000$1,000,000From past experience, the company has learned...
Glacier Company is budgeting for cash collections for the first fiscal quarter. Jan, Feb, and Mar sales are $250,000, $230,000, and $295,000, respectively A total of 80% of all sales are credit sales and 20% are cash sales 90% of credit sales are collected in the month of the sale and 6% are collected in the next month Bad debts average 4% Show how much cash will be collected for the months of February and March February March
Type your answer in the box. A merchandising company's sales budget indicates the following sales: January: $30,000: February $20,000: March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month, following the sale. The total cash receipts collected during March will be $ __________.
Monette Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Monette Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 22% received two months after the sale 3% of the credit sales are never received November sales for last year were $85,000, while December sales were $115,000. Projected sales for...