What are the expected collections for July? Bradshaw Retailers reported June sales of$5,820, while projected sales for July andAugust were $7,250 and $8,100,respectively. Sales are 30% cash and 70%credit. All credit sales are collected in themonth following the sale.What are the expected collections forJuly?

Explanation of Cash Sales: Cash sales represent transactions where customers pay immediately at the…

Answered: Bradshaw Retailers reported June sales…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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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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June sales were $6,000 while projected sales for July and August were $6,900 and $2,000, respectively. Sales are 45% cash and 55% credit. All credit sales are collected in the month following the sale. What are the total expected collections for July? OA. $7,305 OB. $6,405 OC. $6,495 OD. $4,205
Assume that your credit sales for March was $16,288,for April was $33,301 and May was $29,261. If credit sales are collected 55% during the month of sale, 25% the month following the sale, and 15% in the second month following the sale, what is the total expected cash collections to be received in May? Round your answer to one dollar.
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Bradshaw Retailers reported June sales of $5,820, while projected sales for July and August were $7,250 and $8,100, respectively. Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. What are the expected collections for July?