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E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corp. expects to sell 650 sun visors in May and 450 in June. Each visor sells for
E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corp. expects to sell 650 sun visors in May and 450 in June. Each visor sells for $18.Shadee's beginning and ending finished goods inventories for May are 85 and 40 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 515 490 420 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 35 percent is collected during the following month, and 13 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) Answer is complete but not entirely correct. August September Total Cash Receipts 1,519 $ 1,255 $
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