Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Sales revenue of a restaurant was $120,000 in May and $130,000 in June 2020. On average, 40% of sales is usually in cash and

image text in transcribed
The Sales revenue of a restaurant was $120,000 in May and $130,000 in June 2020. On average, 40% of sales is usually in cash and the rest on receivables. If 20% of receivables are collected in the month of sales and 80% in the following month, How much is the total cash receipts (cash Inflow) in June 2020? Ob. a.$43,300 $67,600 C.128,800 d.$125,200

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

Step: 3

blur-text-image

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

Public Sector Accounting

Authors: Budding, Tjerk, Grossi, Giuseppe, Tagesson, Torbj

1st Edition

0415683149, 9780415683142

More Books

Students also viewed these Accounting questions