Question
Using the following information, what is the projected dollar amount of credit sales for the month of June? Desired ending inventory: 10% of the next
Using the following information, what is the projected dollar amount of credit sales for the month of June?
Desired ending inventory: 10% of the next month's sales
April Sales (units): 1,500
May Sales (units): 2,000
June Sales (units): 3,000
July Sales (units): 4,000
Selling Price: $10
Credit Sales: 25%
Cash Sales: 75%
Credit Sale Cash Collection in Month of Credit Sale: 50%
Credit Sale Cash Collection in Month Following Credit Sale: 50%
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
14th Edition
133081605, 132575957, 9780133081602, 978-0132575959
