Question
Gardner Company expects sales for October of $244,000. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects
Gardner Company expects sales for October of $244,000. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $66,000. What is the amount of cash expected to be collected in October?
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Food And Beverage Cost Control
Authors: Jack E. Miller, Lea R. Dopson, David K. Hayes
3rd Edition
0471273546, 978-0471273547
