Compute the Cash Collected in March. Total Sales January 40, 000 February 50,000 March 70,000 The company has 80% of total sales as cash sales during each month. The company receives 50% of sales on account in the same month as the sale, and the remaining 50% collected the month following the sale. Group of answer choices 70,000 72,000 68,000 56,000
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![Compute the Cash Collected in March. Total Sales January 40, 000 February 50,000 March 70,000 The company has 80% of total sales as cash sales during each month. The
company receives 50% of sales on account in the same month as the sale, and the remaining 50% collected the month following the sale. Group of answer choices
70,000 72,000 68,000 56,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6f7b7238-fdca-4f32-a870-3ccb0f3c5ebb%2F244e1fcc-0913-4095-8688-1c0a1e3f347a%2Fjdk90mp_processed.png&w=3840&q=75)
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- Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $127,000 November 159,000 December 232,000 The Accounts Receivable balance on September 30 was $85,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. OfficeMart Inc.Schedule of Cash Collections from SalesFor the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 September sales on account:…Jasper Company has 56% of its sales on credit and 44% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $523,000 for April, $533,000 for May, and $558,000 for June. Total sales for March are $305,700. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Cash sales JASPER COMPANY Schedule of Cash Receipts from Sales April May Collections of prior period sales Total cash receipts S S $ $ $ $ June5 At Lyman Company, past experience reveals that 10% of sales are for cash and the remaining 90% are on credit. Lyman Company expects to collect 30% of its credit sales in the month of sale, 50% in the month following sale, and 18% in the second month following sale. Which ONE of the following is part of the cash collections expected to be made in January? O Cash sales from the preceding December O Cash collections of credit sales from the preceding December O Cash collections of credit sales from the preceding September O Cash sales from the preceding November
- Whispering Company has the following sales projections for its second and third quarters: Аpril $300,000 Мay $320,000 June $340,000 July $360,000 August $350,000 September $330,000 Normal cash collection experience has been that 40% of sales are collected during the month of sale, 20% in the month following sale, and 35% in the second month following sale. The remaining 5% of sales is never collected.Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month Total sales Total cash receipts in Month 4 will be: Multiple Choice $27,230. $47,900. 1 2 3 $ 60,000 $ 70,000 $50,000 $30,000 £36 230Star Company was organized on August 1 of the current year. Projected sales for the next three months are as follows: August $250,000 September 200,000 October 275,000 The company expects to sell 50% of its merchandise for cash. Of the sales on credit, 30% are expected to be collected in the month of the sale and the remainder in the following month. What is Star Company expected cash collection for September?
- Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customer while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remainim 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October November December $109,000 136,000 199,000 The Accounts Receivable balance on September 30 was $73,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dolla OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 November Receipts from cash sales: Cash sales September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: October…You collect 75% of a month's sales in the month of the sale and 25% of sales in the following month. May sales June sales July sales O $105 O $35 $120 Compute cash inflows for June. $135 $140 $100 not enough information, because sales revenue differsPardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month 1 2 3 4 Total sales $78,000 $80,000 $68,000 $48,000 Total cash receipts in Month 4 will be: A. 38,780 B.68,000 C.53,180 D.50,600
- Jasper Company has 56% of its sales on credit and 44% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $520,000 for April, $530,000 for May, and $555,000 for June. Total sales for March are $292,100. Prepare a schedule of cash receipts from sales for April, May, and June Sales Cash receipts from Cash sales Accounts payable Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales April 520,000 May 530,000 June 555,000X-Tel budgets sales of $55,000 for April, $110,000 for May, and $70,000 for June. Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $13,000. Prepare a schedule of cash receipts from sales for April, May, and June Sales Cash receipts from: Total cash receipts X-TEL Schedule of Cash Receipts from Sales April $ $ 55,000 $ 0 $ May 110,000 $ 0 $ June 70,000 0Schedule of cash collections of accounts receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 30% pay their accounts in the month of sale, while the remaining 70% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $58,000 November 65,000 December 72,000 The Accounts Receivable balance on September 30 was $35,000. Prepare a schedule of cash collections from sales for October, November, and December. Enter all amounts as positive numbers. OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 Line Item Description Receipts from cash sales: Cash sales September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected…
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