Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

number 8 answer is needed for this problem. U Question 7 4 pts Big City Manufacturing (BCM) is preparing its cash budget and expects to

number 8 answer is needed for this problem. image text in transcribed
U Question 7 4 pts Big City Manufacturing (BCM) is preparing its cash budget and expects to have sales of $450,000 in January $375,000 in February, and $555,000 in March. If 20% of the sales are for cash, 45% are credit sales paid in the month after the sale, and another 35% are credit sales paid 2 months after the sale, what are the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enters or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box D Question 8 4 pts In problem 7. Big City Manufacturing (BCM) assumed that all credit sales were paid in full, which is not realistic BCM studied its past credit sales and determined that 3.5% of its credit sales resulted in Bad Debts that were never collected. Using the data from the previous problem with the new assumption that 3.5% of credit sales were never collected, what is your revised estimate for the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enters or comma in the answer box. For example, if your answer is $12,300,456 then enter as 12300 46 in the answer box U Question 7 4 pts Big City Manufacturing (BCM) is preparing its cash budget and expects to have sales of $450,000 in January $375,000 in February, and $555,000 in March. If 20% of the sales are for cash, 45% are credit sales paid in the month after the sale, and another 35% are credit sales paid 2 months after the sale, what are the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enters or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box D Question 8 4 pts In problem 7. Big City Manufacturing (BCM) assumed that all credit sales were paid in full, which is not realistic BCM studied its past credit sales and determined that 3.5% of its credit sales resulted in Bad Debts that were never collected. Using the data from the previous problem with the new assumption that 3.5% of credit sales were never collected, what is your revised estimate for the expected cash receipts for March? Enter your answer rounded to two decimal places. Do not enters or comma in the answer box. For example, if your answer is $12,300,456 then enter as 12300 46 in the answer box

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

Michael Saylor On Bitcoin The Very First Interviews

Authors: Coinan The Barbarian ,Satoshi Nakamoto

1st Edition

979-8423442019

More Books

Students also viewed these Finance questions

Question

What difference is tested for significance using a t-test?

Answered: 1 week ago