Capid Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at: $360 000 for October $330 000 for November $320 000 for December Collections are expected to be 60% in the month of sale, 36% in the month following the sale, and 4% uncollectible. The October beginning balance is the accounts receivable account is $77 000. What ate the expected cash receipts in November? A. $327 600 B. $310 800 C. $342 000 D. $293 000
Capid Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at: $360 000 for October $330 000 for November $320 000 for December Collections are expected to be 60% in the month of sale, 36% in the month following the sale, and 4% uncollectible. The October beginning balance is the accounts receivable account is $77 000. What ate the expected cash receipts in November? A. $327 600 B. $310 800 C. $342 000 D. $293 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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