HomeworkLib
Question

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the...

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $231,000, $309,000, and $430,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.

The cash collections expected in November from accounts receivable are projected to be:

a.$240,800

b.$340,872

c.$197,540

d.$284,060

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Expected cash collections in November

= October sales (309,000*70%*20%) + November sales (430,000*70%*80%)

= 43,260 + 240,800

= 284,060

0 0
Add a comment
Know the answer?
Add Answer to:
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the...

    Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $235,000, $307,000, and $407,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be: a....

  • 1) Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for...

    1) Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $260,000, $350,000, and $400,000, respectively, for September, October, and November. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections in November from accounts receivable are: 2)Division A of...

  • Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began...

    Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business—September, October, and November—are $239,000, $309,000, and $422,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections...

  • Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began...

    Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business—September, October, and November—are $232,000, $307,000, and $424,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections...

  • Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the...

    Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $316,000, and $412,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale. The cash collections in November are a.$216,300 b.$390,400 c.$468,480 d.$103,000

  • Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the...

    Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $234,000, $319,000, and $407,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale. The cash collections expected in October are a.$299,875 b.$289,240 c.$225,440 d.$272,240 please give...

  • Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of b...

    Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $235,000, $307,000, and $421,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale. The cash collections expected in October are a.$265,920 b.$280,320 c.$218,920 d.$290,800

  • Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began...

    Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business—September, October, and November—are $237,000, $307,000, and $423,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections...

  • 1) 2) 3) 4) 5) Nuthatch Corporation began its operations on September 1 of the current...

    1) 2) 3) 4) 5) Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $239,000, $318,000, and $420,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in October from accounts receivable are estimated...

  • Macaulay Corporation was reviewing its cash budget starting with September 1 of the current year. Budgeted...

    Macaulay Corporation was reviewing its cash budget starting with September 1 of the current year. Budgeted cash and credit sales for the last four months of business during the year are $250,000 for September, $300,000 for October, $420,000 for November, and $540,000 for December. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT