Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $50481 and $41331 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after the sale and 40% two months after the sale. What is the total amount of cash collected in May 2022 based on this information? (Show amount to two decimal places and without, or $ signs) $ Answer:
Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $50481 and $41331 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after the sale and 40% two months after the sale. What is the total amount of cash collected in May 2022 based on this information? (Show amount to two decimal places and without, or $ signs) $ Answer:
Chapter7: Budgeting
Section: Chapter Questions
Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...
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Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $50481 and $41331 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after the sale and 40% two months after the sale. What is the total amount of cash collected in May 2022 based on this information? (Show amount to two decimal places and without, or $ signs) $ Answer:
![Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $50481 and
$41331 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after
the sale and 40% two months after the sale.
What is the total amount of cash collected in May 2022 based on this information? (Show amount to two decimal places
and without, or $ signs) $
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc121e828-07cb-48cc-ba67-d3eab7dbd165%2Feaf90157-3f14-4b77-b400-d6efaa43a188%2Fjjhap3d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Living Tanks sell tanks and fish and reptiles throughout Victoria. During March 2022, cash sales were $50481 and
$41331 were on credit. Credit sales are collected on average 10% later in the month of the sale, 50% in the month after
the sale and 40% two months after the sale.
What is the total amount of cash collected in May 2022 based on this information? (Show amount to two decimal places
and without, or $ signs) $
Answer:
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