{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-25T11:11:53-04:00", "answer_date": "2024-05-25 11:11:53", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1684393", "url": "\/study-help\/questions\/exercise-2-lets-figure-this-out-corp-expects-service-revenue-1684393", "question_creation_date_js": "2024-05-25T11:11:53-04:00", "question_creation_date": "May 25, 2024 11:11 AM", "meta_title": "[Solved] Exercise 2) Let's Figure This Out Corp. e | SolutionInn", "meta_description": "Answer of - Exercise 2) Let's Figure This Out Corp. expects service revenue in the next 6 months as follows: November $415,000 Dec | SolutionInn", "meta_keywords": "exercise,2,s,figure,corp,expects,service,revenue,6,months,november,$415,000", "question_title_h1": " Exercise 2) Let's Figure This Out Corp. expects service revenue in the next 6 months as follows: November $415,000 December $571,000 January $504,000 February", "question_title": " Exercise 2) Let's Figure This Out Corp. expects service revenue in", "question_title_for_js_snippet": "Exercise 2) Let's Figure This Out Corp expects service revenue in the next 6 months as follows November $415,000 December $571,000 January $504,000 February March April Prior experience has shown that the following collections are made $433,000 $408,000 $347,000 38 44 percent of a month's revenue is collected in the month the service is performed 26 47 percent in the month following the service being performed 12 21 percent in the second month following the service being performed 7 77 percent in the third month following the service being performed 2 16 percent in the fourth month following the service being performed Remainder is collected in the fifth month following the service being performed September and October service revenues were $424,000 and $471,000 respectively Past experience shows that 5 93 percent of revenues are never collected (i e , bad debts) Required Estimate budgeted cash receipts (service revenue collected) for February, March, and April Please handwrite ", "question_description": "\"image", "transcribed_text": "Exercise 2) Let's Figure This Out Corp. expects service revenue in the next 6 months as follows: November $415,000 December $571,000 January $504,000 February March April Prior experience has shown that the following collections are made: $433,000 $408,000 $347,000 38.44 percent of a month's revenue is collected in the month the service is performed 26.47 percent in the month following the service being performed 12.21 percent in the second month following the service being performed 7.77 percent in the third month following the service being performed 2.16 percent in the fourth month following the service being performed Remainder is collected in the fifth month following the service being performed September and October service revenues were $424,000 and $471,000 respectively. Past experience shows that 5.93 percent of revenues are never collected (i.e., bad debts). Required: Estimate budgeted cash receipts (service revenue collected) for February, March, and April. Please handwrite.", "related_book": { "title": "Fundamental accounting principle", "isbn": "1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587", "edition": "21st edition", "authors": "John J. Wild, Ken W. Shaw, Barbara Chiappetta", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/267.jpg", "uri": "\/textbooks\/fundamental-accounting-principle-21st-edition-267", "see_more_uri": "" }, "free_related_book": { "isbn": "0262122464", "uri": "\/textbooks\/the-communications-toolkit-how-to-build-and-regulate-any-communications-business-1st-edition-9780262122467", "name": "The Communications Toolkit How To Build And Regulate Any Communications Business", "edition": "1st Edition" }, "question_posted": "2024-05-25 11:11:53", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/statistics-for-business-and-economics\/an-average-of-three-small-businesses-go-bankrupt-each-month-1277835", "description": "An average of three small businesses go bankrupt each month. 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