Regal Company finds that typically 30% of sales are for cash. Payments on accounts receivable are...
Regal Company finds that typically 30% of sales are for cash. Payments on accounts receivable are 60% in the month of sale and 38% in the following month. Total budgeted sales are:
|
June |
$110,000 |
|
July |
$150,000 |
|
August |
$130,000 |
How much total cash is expected to be received in July?
Question 6 options:
|
$139,400 |
|
|
$137,260 |
|
|
$147,820 |
|
|
$152,000 |
Homework Answers
Answer- Total cash is expected to be received in July =$137260.
Explanation- Total cash received in July month= ($110000*70%*38%)+($150000*30%)+($150000*70%*60%)
= $29260+$45000+$63000
= $137260
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Regal Company finds
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