Question
V8 i 6 Saved 5 ants eBook Hint Print References E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 550 sun
V8 i 6 Saved 5 ants eBook Hint Print References E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 550 sun shades in May and 300 in June. Each shades sells for $10. Shadee's beginning and ending finished goods inventories for May are 60 and 50 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: July August September 545 460 460 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 38 percent is collected during the following month, and 10 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. August September Total Cash Receipts
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