Barb’s Best Pies is based in Newtown and makes gourmet pies sold online to customers on credit (40% if sakes) and to customers in the factory for cash (60% of sales). Barb’s Best Pies is preparing a sales budget for the October – December quarter. Sales are estimated at 1,100 pies in October, 1,200 pies in November and 1,600 pies in December. The average selling price per pie is $21. Credit customers pay 95% in the month after sale. The remaining credit sales are bad debt. September sales were 1,300 pies. What is the total credit sales in November?
Barb’s Best Pies is based in Newtown and makes gourmet pies sold online to customers on credit (40% if sakes) and to customers in the factory for cash (60% of sales). Barb’s Best Pies is preparing a sales budget for the October – December quarter. Sales are estimated at 1,100 pies in October, 1,200 pies in November and 1,600 pies in December. The average selling price per pie is $21. Credit customers pay 95% in the month after sale. The remaining credit sales are bad debt. September sales were 1,300 pies. What is the total credit sales in November?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Barb’s Best Pies is based in Newtown and makes gourmet pies sold online to customers on credit (40% if sakes) and to customers in the factory for cash (60% of sales). Barb’s Best Pies is preparing a sales budget for the October – December quarter. Sales are estimated at 1,100 pies in October, 1,200 pies in November and 1,600 pies in December. The average selling price per pie is $21. Credit customers pay 95% in the month after sale. The remaining credit sales are
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