Question
In: Accounting
Shown below are the budgeted sales for ABC Company for the next six months: Sales for...
Shown below are the budgeted sales for ABC Company for the next six months:
Sales for Cash Sales on Account
January $15,000 $ 70,000
February $18,000 $ 80,000
March $14,000 $160,000
April $26,000 $120,000
May $18,000 $170,000
June $24,000 $105,000
On average, 35% of the sales on account are collected in the month of sale, 40%
are collected in the month following sale, 10% are collected in the second month
following sale, and the remaining 15% is collected three months after the month
of sale.
Calculate the expected cash collections for April.Solutions
ekkarill92 answered 1 year agoRelated Solutions
Shown below are the budgeted sales for ABC Company for the next six months: Sales for...
Shown below are the budgeted sales for ABC Company for the next
six months:
Sales for Cash Sales on Account
January $18,000 $ 95,000
February $15,000 $130,000
March $24,000 $ 70,000
April $26,000 $120,000
May $19,000 $ 90,000
June $14,000 $100,000
On average, 45% of the sales on account are collected in the month
of sale, 30% are collected in the month following sale, 15% are
collected in the second month following sale, and the remaining
10% is collected three...
Shown below are the budgeted sales for ABC Company for the next six months: Sales for...
Shown below are the budgeted sales for ABC Company for the next
six months:
Sales for Cash Sales on Account
January $15,000 $110,000
February $18,000 $125,000
March $26,000 $119,000
April $24,000 $140,000
May $14,000 $ 88,000
June $18,000 $137,000
On average, 25% of the sales on account are collected in the month
of sale, 30% are collected in the month following sale, 35% are
collected in the second month following sale, and the remaining
10% is collected three months after...
ABC Company has budgeted sales for the next six months as follows: Budgeted Sales in Units...
ABC Company has budgeted sales for the next six months as follows:
Budgeted Sales in Units
March 12,000 units
April 24,000 units
May 35,000 units
June 13,000 units
July 43,000 units
August 69,000 units
ABC Company sells its inventory to customers for $25 per unit.
30% of the company's sales are cash sales and the other 70% of
sales are made on account. The sales on account are collected
in the pattern:
35% collected in the month of sale
26%...
ABC Company has budgeted sales for the next six months as follows: Budgeted Sales in Units...
ABC Company has budgeted sales for the next six months as follows:
Budgeted Sales in Units
March 19,000 units
April 23,000 units
May 34,000 units
June 17,000 units
July 48,000 units
August 69,000 units
ABC Company sells its inventory to customers for $16 per unit.
30% of the company's sales are cash sales and the other 70% of
sales are made on account. The sales on account are collected
in the pattern:
35% collected in the month of sale
26%...
Towing Company has budgeted sales for the next six months as follows: Sales for Cash Sales...
Towing Company has budgeted sales for the next six months as
follows: Sales for Cash Sales on Account May $42,000 $257,000 June
$37,000 $243,000 July $29,000 $238,000 August $48,000 $269,000
September $52,000 $251,000 October $45,000 $263,000 On average, 32%
of the sales on account are collected in the month of sale, 40% are
collected in the month following sale, 16% are collected in the
second month following sale, 8% are collected in the third month
following sale, and the remaining...
Towing Company has budgeted sales for the next six months as follows: Sales for Cash Sales...
Towing Company has budgeted sales for the next six months as
follows: Sales for Cash Sales on Account May $42,000 $257,000 June
$37,000 $243,000 July $29,000 $238,000 August $48,000 $251,000
September $52,000 $269,000 October $45,000 $263,000 On average, 32%
of the sales on account are collected in the month of sale, 40% are
collected in the month following sale, 16% are collected in the
second month following sale, 9% are collected in the third month
following sale, and the remaining...
ZZ, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales in Units July...
ZZ, Inc. has budgeted sales in units for the next six months as follows:
Budgeted Sales in Units
July 7,700 units
August 8,300 units
September 5,400 units
October 10,200 units
November ?????? units
December 11,700 units
The selling price is $18 per unit. 30% of the company's sales are cash
sales and 70% of the company's sales are made on account. The sales on
account are collected in the pattern 15% in the month of sale, 20% in
the month...
Judge Company's budgeted sales for the next five months are given below (assume all sales are...
Judge Company's budgeted sales for the next five months are
given below (assume all sales are made on account):
Budgeted Sales
January $155,000
February $272,000
March $???????
April $180,000
May $235,000
Judge Company's sales are collected in the pattern:
22% collected in the month of sale
35% collected in the month following sale
27% collected in the second month following sale
16% collected in the third month following sale
Judge Company's budgeted accounts receivable at April 30 was
$330,980.
Calculate...
ABC Company has the following sales budget for the last six months of 2020:
Note: Not all sales are always collected. Remember Bad Debt Expense. So don’t worry if the problems do not add up to 100%.
1. ABC Company has the following sales budget for the last six months of 2020:
July $9,000
August $8,000
September $11,000
October $9,000
Historically, the cash collection of sales has been as follows:
35% of sales collected in the month of sale,
45% of sales collected in the month...
Budgeted sales in Acer Corporation over the next four months are given below: September October November...
Budgeted sales in Acer Corporation over the next four months are given below:
September October November December
Budgeted Sales $140,000 $150,000 $170,000 $130,000
25% of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The remainder...
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