Question
The following forecasted sales pertain to Hamston Corporation: Month Sales September $90,000 October 110,000 November 65,000 December 55,000 Collection pattern: 45% percent in month of
The following forecasted sales pertain to Hamston Corporation: Month Sales September $90,000 October 110,000 November 65,000 December 55,000 Collection pattern: 45% percent in month of sale 55% percent in month following sale Accounts Receivable (August 31): $37,400 Finished Goods Inventory (August 31): 36,000 Hamston Corporation has a selling price of $20 per unit and expects to maintain ending inventories equal to 40 percent of the next month's sales. a. What is the beginning accounts receivables balance ($) for the month of September? 0 decimals b. What is the total accounts receivables collected ($) in the month of September? 0 decimals
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