Question
A company's sales price per unit is $19. It has the following sales: Jan 640 Feb 340 Mar 575 Apr 490 May 460 Sixty percent
A company's sales price per unit is $19. It has the following sales:
| Jan | 640 |
|---|---|
| Feb | 340 |
| Mar | 575 |
| Apr | 490 |
| May | 460 |
Sixty percent of sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 37 percent is collected during the following month, and 9 percent is never collected.
Required:
Calculate total cash receipts for April and May.
Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar.
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Financial and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
5th edition
978-1259317552, 1259317552, 978-0078025600, 78025605, 978-1259335013, 1259335011, 978-1259347641
