Question
Sunland Company, a retailer of camping supplies has budgeted activity for January using the following data: January cash sales $52,000 January credit sales 386,000 Collections
Sunland Company, a retailer of camping supplies has budgeted activity for January using the following data:
January cash sales | $52,000 | |
January credit sales | 386,000 | |
Collections from December credit sales | 147,000 | |
Selling and administrative costs (paid in month of purchase) | 54,000 | |
Depreciation expense | 21,000 | |
Merchandise Inventory, January 1 | 193,000 | |
Merchandise Inventory, January 31 | 212,000 | |
Cost of goods sold is 40% of Coopers selling price | ||
All purchases are paid in cash | ||
Credit sales are collected 60% in the month of sale, 35% in | ||
the following month, and 5% is deemed uncollectible |
What is Sunlands budgeted cash receipts for January? Total January collections $enter total january collection in dollar
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