Question
SalaRitas sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in
SalaRitas sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in the month following the sale, and 15% is collected two months after. Budgeted sales data is as follows:
June $200,000
July 120,000
August 150,000
How much is total Accounts Receivable at the end of August?
A. $61,200
B. $73,440
C. $99,600
D. $108,000
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Financial Accounting Information For Decisions
Authors: John J Wild
3rd Edition
0072974729, 978-0072974720
