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I need help solving question 9 not sure if answer is B. Please provide detailed explanation. ng data pemains to the next two questions 95522
I need help solving question 9 not sure if answer is B. Please provide detailed explanation.
ng data pemains to the next two questions 95522 Company has the following budgeted sales for the last half of next year: July ..................... August .............. September... October.... November December Cash Sales $50,000 $55,000 $45,000 $50,000 $60,000 $80,000 Credit Sales $150,000 $170,000 $130,000 $145,000 $200,000 $350,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Aug Sep Oct Collections on credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale 8. The total cash receipts during October would be: A. SI50,000 B. $236,500 $193,000 50,000+ 145,000 x 60 % D. S200,000 + E. S364,500 87000 + 32,50 145.000x 60% 180000x zof 17ooo & 50000 = 50,000 170000 X.10=17000 130 000 X.30 = 39000 145000 X 10 = 6700 193000 9. What is the budgeted accounts receivable balance on November 30? A. $160,000 B. $94.500 C. S140,000 D. $131,300 E. $71,000 80.00 114500 Sep Nov Nov Oct Aug Dec Jan Neu 3 Nova C 950000 .69 1 45000 X.10 - 14-500 200 000 X.30 = 60000 200 000 -10 30000 =94500
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