Mercurius forecasts the following sales figures for the next four months. June July August September 420,000 350,000 380,000 440,000 Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale. What is Mercurius' estimated accounts receivable balance on 30 September? (Answer without comma separators, e.g., 1000 instead of 1,000)
Mercurius forecasts the following sales figures for the next four months. June July August September 420,000 350,000 380,000 440,000 Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale. What is Mercurius' estimated accounts receivable balance on 30 September? (Answer without comma separators, e.g., 1000 instead of 1,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mercurius
June | July | August | September |
420,000 | 350,000 | 380,000 | 440,000 |
Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale.
What is Mercurius' estimated
(Answer without comma separators, e.g., 1000 instead of 1,000)
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