Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2 0 2 2 , cash sales were $ 4 9 0 7

Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $49074 and $40314 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after the sale and 40% two months after the sale.
What is the total amount of cash collected in April 2022 based on this information? (Show amount to two decimal places and without, or $ signs) $
Answer:
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Alan Melville

2nd Edition

0273634399, 978-0273634393

More Books

Students also viewed these Accounting questions

Question

What are the pros and cons of credit? Critical T hinking

Answered: 1 week ago

Question

Describe factors that influence training and development.

Answered: 1 week ago

Question

Identify some training issues in the global context.

Answered: 1 week ago