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How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month |April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) Cash balance (April 1, 2021) |P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000

How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month |April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) Cash balance (April 1, 2021) |P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000

FINANCIAL ACCOUNTING
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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Na How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) | Cash balance (April 1, 2021) P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000
Transcribed Image Text:Na How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) | Cash balance (April 1, 2021) P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000
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