HelpSave & ExitSubmit9.Benton Company's sales budget shows the following expected total sales:MonthSalesJanuary$20,000February$24,000$29,000MarchApril$46,000The company expects 70% of Its sales to be on account (credit sales). Credit sales are collected as follows: 25% In the month of sale and 72% In the month following the sale, with the remainder being uncollectible and wrtten off The total cash recelpts during Aprti wouldbe:Multiple Choice$29.200.$24,150.$21.705.$36.466.1147 AM83F Mostly cloudy10/3/2021McGraw

Answered: Image /qna-images/answer/7f74a63f-ce9e-4478-bc7d-b0b0ab145e48.jpg

Answered: Benton Company's sales budget shows the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Saved Wsinut has forecasl sales for the next three months as follows July 5,800 units, August 7,800 units, September 9,300 units. Walnut's policy is to haave 33 nendng inventary of 40% of the next month's sales needs on hand. July 1 Inventory is projected to be 3,300 units. Selling and administrative costs n budgeted to be $3.000 per month plus $5 per unit sold. What are budgeted selling and administrative expenses for September? Mitole Choice $45000 ST02.200 $79.500
Estate Ltd begins trading on January 1st, 2017. The following sales figures are budgeted for January to March in 2017 January February March $ 13,000 $ 17,000 $ 10,000 5 % of sales will be for cash. The remainder will be credit sales. A discount of 5 % will be offered on all cash sales The payment pattern for credit sales is expected to be as follows. Invoices paid the month after sale 75 % Invoices paid in the second month after sale 23 % Bad debts 02 % Invoices are issued on the last day of each month. The amount budgeted to be received in March 2017 is
sub : Accounting pls answer ASAP.Please type the answer. dnt CHATGPT. i ll upvote.
Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: April $374,400 May 411,100 June 416,700 Wight typically pays 25% on account in the month of billing and 75% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June?
Zily Co. predicts sales of $185,000 for June. Zily pays a sales manager a monthly salary of $6.600 and a commission of 8% of that month's sales dollars. Prepere a selling expense budget for the month of June. ZILLY CO. Selling Expense Budget For Month Ended June 30 Budgeled sales
7 Benton Company's sales budget shows the following expected total sales: Month Sales January $17,000 February $21,000 March April The company expects 80% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale and 69% in the month following the sale, with the remainder being uncollectible and written off. The total cash receipts during April would be: Multiple Choice O $26,000 $49,000 O O $21,165. $35,200. $33,952. Check $25,725.
Please do not give solution in image format thanku
Lo’s Clothiers has forecast credit sales for the fourth quarter of the year. September $70,00 Forth Quarter October $60,000 November 55,000 December 80,000 Experience has shown that 30 percent of sales are collected in the month of sale, 60 percent are collected in the following month, and 10 percent are never collected. Prepare a schedule of cash receipts for J.Lo’s Clothiers covering the fourth quarter (October through December)
vnt.2 Matthew Company has a sales budget for last month of $400,000. Cost of goods sold is expected to be 40% of sales. All units are paid for in the month following purchase. The beginning inventory is $5,000 and an ending inventory of $12,000 is desired. Beginning accounts payable is $76,000. The costs of goods solf for the next month is a) $220,000 b) $160,000 c) $172,000 d) $140,000
Sheridan, Inc. expects sales volume totaling $460000 for June. Data for the month follows: Sales commissions Sales manager's salary 4% of sales $27600 per month $23000 per month Advertising expense Shipping expense. Miscellaneous selling expenses $1932 per month plus 3/4% of sales O $78982. O $52532. O $28382. O $77050. 1% of sales How much is Sheridan's selling expense budget for June?
Browning Company's sales budget shows the following expected total sales: Month Sales $23,000 $27,000 $32,000 $43,000 January February March April The company expects 70% of its sales to be on account (credit sales). Credit sales are collected as follows: 25% in the month of sale, 69% in the month following the sale with the remainder being uncollectible and written off. The total cash inflows from sales in April would be: Multiple Choice $22,575 $25,005. $35,881 $23,200
i need the answer quickly

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS