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Tesla Corporation has the following budgeted sales for the last half of next year: I Cash Sales Credit Sales July $120.000 $150.000 AuGUSt............ $372.000 $170.000
Tesla Corporation has the following budgeted sales for the last half of next year:
I
Cash Sales
Credit Sales
July
$120.000
$150.000
AuGUSt............
$372.000
$170.000
September.....
$454.000
$130.000
October.
$376.000
$145.000
November......
$281,000
$200.000
December......
$334.000
$350.000
The Tesla company is in the process of preparing a cash budget and must determine the expected cash collections by month.
To this end, the following information has been assembled:
Collections on credit sales:
60% in month of sale
30% in month following sale
10% in second month following sale
Q) The total cash receipts during November for Tesla would be:
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Managerial Accounting
Authors: John Wild, Ken Shaw
5th edition
978-1259176494, 1259176495, 978-1259347641, 1259347648, 978-0078025600
