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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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 Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
