Question
In: Accounting
Harrti Corporation has budgeted for the following sales: July $ 449,000 August $ 584,000 September $...
Harrti Corporation has budgeted for the following sales:
July $ 449,000
August $ 584,000
September $ 617,000
October $ 892,000
November $ 750,000
December $ 710,000
Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% in the second month following the sale. In Razz's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
Solutions
Expert Solution
accounts receivable at December 31=(0.20%*November sales)+(0.85*December sales)
=(0.2*750,000)+(0.85*710,000)
which is equal to
=$753500.
ekkarill92 answered 2 years agoRelated Solutions
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August
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September
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October
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November
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December
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1. What is the budgeted total cash collected in December?
2. In Razz's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
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