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Coronado, Inc reports all its sales on credit and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July
Coronado, Inc reports all its sales on credit and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $300700 $290300 $320900 $279200 $210700 Budgeted purchases $143400 $119100 $128300 $132400 $89000 . Customer amounts on account are collected 65% in the month of sale and 35% in the following month. Cost of goods sold is 60% of sales. Coronado purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month. Operating expenses are: Salaries, $49800; Depreciation, $11600; Rent, $14800; and Utilities, $14100. Accounts payable is used only for inventory acquisitions. How much cash will Coronado receive during May from customers? $306305 $310190 $208585 $301010
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