A company's sales price per unit is $16. It has the following sales: Jan Feb Mar Apr May 530 400 575 460 430 Sixty percent of sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 40 percent is collected during the following month, and 8 percent is never collected. Required: Calculate total cash receipts for April and May. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts April May

A company's sales price per unit is $16. It has the following sales: Jan Feb Mar Apr May 530 400 575 460 430 Sixty percent of sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 40 percent is collected during the following month, and 8 percent is never collected. Required: Calculate total cash receipts for April and May. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts April May

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PA: Fitbands estimated sales are: What are the balances in accounts receivable for January, February,...

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