Question
McFarland Company makes 70 percent of its sales in cash. Credit sales are collected as follows: 70 percent in the month of sale and 30
McFarland Company makes 70 percent of its sales in cash. Credit sales are collected as follows: 70 percent in the month of sale and 30 percent in the month following the sale.
McFarlands budgeted sales for upcoming months follow:
| June | $ | 23,600 |
| July | 36,000 | |
| August | 34,000 | |
| September | 32,000 | |
Required:
Compute McFarlands expected cash receipts for August.
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Computers Electronics And High Tech Industry Irs Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304133834, 978-1304133830
