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Hello, can you help me with this question please? E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 640 sun shades in
Hello, can you help me with this question please?
E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 640 sun shades in May and 320 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 65 shades. It expects the following unit sales for the third quarter: Sixty percent of Shadee's saies are cash. Of the credit sales, 52 percent is collected in the month of the sale, 38 percent is collected during the following month, and 10 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar Step by Step Solution
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