Question
A company reports the following budgeted sales: August, $330,000; and September $370,000. Cash sales are 30% of total sales, and all credit sales are collected
A company reports the following budgeted sales: August, $330,000; and September $370,000. Cash sales are 30% of total sales, and all credit sales are collected in the month following the sale. Total cash receipts for September are:
Multiple Choice
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$111,000.
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$260,700.
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$231,000.
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$358,000.
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$342,000.
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
17th edition
007802577X, 978-0078025778
