Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your company had sales of $102,493 this year and cost of goods sold of $78,963. The company's depreciation was 6,547, the Net Income was 19,865.
Your company had sales of $102,493 this year and cost of goods sold of $78,963. The company's depreciation was 6,547, the Net Income was 19,865. Cash was 26,885. Accounts Receivable was 10,970 and Inventory was 5,035 You forecast sales to increase to $141,345 next year. Using the percent of sales method, forecast next years Accounts receivable?
NOTE: Submit your answers with 4 decimals after the dot.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started