Question
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $247,000,
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Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $247,000, $319,000, and $400,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in September from accounts receivable are estimated to be
a.$172,900
b.$247,000
c.$138,320
d.$296,400
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of businessSeptember, October, and Novemberare $247,000, $319,000, and $400,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in September from accounts receivable are estimated to be
a.$172,900
b.$247,000
c.$138,320
d.$296,400
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Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
