The ballentine company expects sales for june, july, and august of $48,000, $54,000, and $44,000, respectively. experience suggests that 40% of sales are for cash and 60% are on credit. the company collects 50% of its credit sales in the month following the sale, 45% in the second month following sale, and 5% are not collected. what are the company's expected cash receipts for august from its current and past sales?
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Ответ:
The Cash Receipts in August is $45380
Explanation:
August Cash sales = Total Sales x Percentage of Cash Sales = $44000 x 60% = $17600
Credit Sales in Month of August = Total Sales - Cash sales = $44000 - $17600 = $26400
Collection of August Credit sales in August = Credit Sales of August x Percentage of Sales collection in August
Collection of August Credit sales in August = $26400 x 50% = $13200
Credit Sales of July = Total of July x Percentage of Credit Sales
Credit Sales of July = $54000 x 60% = $32400
July Credit sales collected in August = $32400 X 45% = $14580
Total August Collection = Cash Sales in August + August Sales collected in August + July Sales collected in July
Total August collection = $17600 + $13200 + $14580 = $45380
Ответ:
the middle colonies i took the test (also, i know this is super late, its for other ppl asking this question)