Question
Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 97,000 August 117,000 September 127,000 Cash sales are normally 30%
Frankie's Chocolate Co. reports the following information from its sales budget: |
Expected Sales: | July | $ 97,000 |
August | 117,000 | |
September | 127,000 |
Cash sales are normally 30% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is: |
a) $113,000.
b) $82,400.
c) $105,000.
d) $195,400.
$e)22,600.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
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