Discus Productions needs to know its anticipated ensh inflows for the next quarter by month Cash sales are 10% of total sales each month. Historically, sales on sccount havebeen collected as follows 60% in the month of ale, 30% in the month after the sale, and the reurining 10% two months after the sale. Sales for the quarter are projected asfollows: April, S120,000: May, S100,000; and June, 590,000. Accounte receivable on March 31 were S60,000,The expected caalh collections of Discn Productions for June areOa $92,000.Oh S89.000.Oe $91.200.Od 595.400.

The cash collection schedule is prepared to estimate the cadh collection during the period.

Equarter by month. Cash sales are 10% of total sales each month. Historically, sales on ccount lave been collected as follows 60% in the month of sale, 30% in the month after the sale, and the reugjning 10% two months after the sale. Sales for the quarter are prmjected a follows: April, $120,000: May, S100,000; and June, 590,000. Accounts receivable on March 31 were S60,000. The expected enah collections of Discun Productions for June are Oa $92,000. O S89,000. Oe $91.200. O4 $95.400

Equarter by month. Cash sales are 10% of total sales each month. Historically, sales on ccount lave been collected as follows 60% in the month of sale, 30% in the month after the sale, and the reugjning 10% two months after the sale. Sales for the quarter are prmjected a follows: April, $120,000: May, S100,000; and June, 590,000. Accounts receivable on March 31 were S60,000. The expected enah collections of Discun Productions for June are Oa $92,000. O S89,000. Oe $91.200. O4 $95.400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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