{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T00:15:42-04:00", "answer_date": "2024-05-27 00:15:42", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1768526", "url": "\/study-help\/questions\/qs-2022-algo-computing-budgeted-accounts-receivable-lo-p2-kingston-1768526", "question_creation_date_js": "2024-05-27T00:15:42-04:00", "question_creation_date": "May 27, 2024 12:15 AM", "meta_title": "[Solved] QS 20-22 (Algo) Computing budgeted accoun | SolutionInn", "meta_description": "Answer of - QS 20-22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets total sales for June and July of $400,00 | SolutionInn", "meta_keywords": "qs,20-22,algo,computing,budgeted,accounts,receivable,lo,p2,kingston,budgets,total", "question_title_h1": " QS 20-22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets total sales for June and July of $400,000 and $318,000, respectively. Cash sales", "question_title": " QS 20-22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets", "question_title_for_js_snippet": "QS 20 22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets total sales for June and July of $400,000 and $318,000, respectively Cash sales are 70 of total sales Of the credit sales, 20 are collected in the month of sale, 65 are collected during the first month after the sale, and the remaining 15 are collected in the second month after the sale Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31 Hint Determine the percent of June and July sales that are uncollected at July 31 As of July 31 Sales month Total Sales Credit Sales Percent Uncollected Amount Uncollected June July Total $ 318,000 400,000 $ 240,000 190,800 15 $ 60,000 20 47,700 $ 107,700", "question_description": "\"image", "transcribed_text": "QS 20-22 (Algo) Computing budgeted accounts receivable LO P2 Kingston budgets total sales for June and July of $400,000 and $318,000, respectively. Cash sales are 70% of total sales. Of the credit sales, 20% are collected in the month of sale, 65% are collected during the first month after the sale, and the remaining 15% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31. Hint: Determine the percent of June and July sales that are uncollected at July 31. As of July 31 Sales month Total Sales Credit Sales Percent Uncollected Amount Uncollected June July Total $ 318,000 400,000 $ 240,000 190,800 15% $ 60,000 20% 47,700 $ 107,700", "related_book": { "title": "Accounting", "isbn": "130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309", "edition": "9th Edition", "authors": "Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/83.jpg", "uri": "\/textbooks\/accounting-9th-edition-83", "see_more_uri": "" }, "free_related_book": { "isbn": "1497640423", "uri": "\/textbooks\/ill-met-in-the-arena-9781497640429-9781497605886-140558", "name": "Ill Met In The Arena", "edition": "" }, "question_posted": "2024-05-27 00:15:42", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/compensation-survey-data-collected-in-july-2018-shows-the-average-711023", "description": "Compensation survey data collected in July 2018 shows the average annual salary for Accountant II is $62,300.00 (rounded). 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