Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Elordi Engineers Corp. has the following budgeted sales data (in dollars): June July August September Credit Sales 290,000 270,000 260,000 290,000 Cash Sales 70,000 60,000

Elordi Engineers Corp. has the following budgeted sales data (in dollars):

June July August September
Credit Sales 290,000 270,000 260,000 290,000
Cash Sales 70,000 60,000 80,000 90,000

The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts.

What would the budgeted cash receipts during September be?

Round your answer to the nearest whole number.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Texts And Cases

Authors: Robert Anthony, David Hawkins, Kenneth A. Merchant

12th Edition

0073100919, 978-0073100913

More Books

Students also viewed these Accounting questions

Question

Compare social roles with gender roles. Critical T hinking

Answered: 1 week ago

Question

3 8 6 . .

Answered: 1 week ago