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question 6 and 7 please Piece of Pizza Company is preparing its master budget for its first year of business. It expects to sell 5,000
question 6 and 7 please
Piece of Pizza Company is preparing its master budget for its first year of business. It expects to sell 5,000 pizzas at $9 per pizza per month. It expects to collect 95% of the sales in the month of the sale and 5% in the following month. Calculate its accounts receivable balance at the end of its first month. QUESTION 7 You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 80 hours in your first month and 260 hours in your second month of business. You charge your customers $15 per hour. Your anticipated costs include: You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end of your second month of business Step by Step Solution
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