Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Five Friends Relocation Company prepared the following sales budget: Cash Sales $18,000 $39,000 $40,000 $58,000 Month March April May June Credit collections are 10% in
Five Friends Relocation Company prepared the following sales budget: Cash Sales $18,000 $39,000 $40,000 $58,000 Month March April May June Credit collections are 10% in the month of sale, 65% in the month following the sale, and 20% two months following the sale. The remaining 5% is expected to be uncollectible. What are the total cash collections in June at Five Friends Relocation Company? OA. $110,000 OB. $35,700 O C. $16,300 O D. $93,700 Credit Sales $6,000 $16,000 $42,000 $52,000 4 Five Friends Relocation Company prepared the following sales budget: Credit collections are \10 in the month of sale, \65 in the month following the sale, and \20 two months following the sale. The remaining \5 is expected to be uncollectible. What are the total cash collections in June at Five Friends Relocation Company? A. \\( \\$ 110,000 \\) B. \\( \\$ 35,700 \\) C. \\( \\$ 16,300 \\) D. \\( \\$ 93,700 \\)
Five Friends Relocation Company prepared the following sales budget: Cash Sales $18,000 $39,000 $40,000 $58,000 Month March April May June Credit collections are 10% in the month of sale, 65% in the month following the sale, and 20% two months following the sale. The remaining 5% is expected to be uncollectible. What are the total cash collections in June at Five Friends Relocation Company? OA. $110,000 OB. $35,700 O C. $16,300 O D. $93,700 Credit Sales $6,000 $16,000 $42,000 $52,000 4
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started