Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,895,000 (October), $1,570,000 (November), and $2,122,000 (December). It posted the following sales figures

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Sales receipts. California Cement Company anticipates the following fourth-quarter sales for 2014: $1,895,000 (October), $1,570,000 (November), and $2,122,000 (December). It posted the following sales figures for the third quarter of 2014: $1,962,000 (July), $2,026,000 (August), and $2,294,000 (September). The company sells 45% o its products on credit, and 55% are cash sales. The company collects credit sales as follows: 32% in the following month, 49 two months later, and 17% three months later, with 2% defaults. What are the anticipated cash inflows for the last quarter of 2014? The amount collected in November is S Round to the nearest dollar.) The amount not collected is S (Round to the nearest dollar) Given the September sales of $2,294,000, The amount collected in September is S (Round to the nearest dollar) The amount colected in October is $ (Round to the nearest dolar) The amount colected in November is S.. (Round to the nearest dollar.) The amount collected in December is S (Round to the nearest dollar ) The amount not colected is SD (Round to the nearest dollar) Given the October sales of $1,895,000 The amount collected in October is S (Round to the nearest dollar) Enter your answer in each of the answer boxes

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

Financial Shenanigans How To Detect Accounting Gimmicks And Fraud In Financial Reports

Authors: Howard M. Schilit, Jeremy Perler, Yoni Engelhart

4th Edition

126011726X, 9781260117264

More Books

Students also viewed these Finance questions