Question 2 View Policies Current Attempt in Progress Drew Enterprises reports all its sales on credit, and pays operating costs in the month incurred. Estimated amounts for the months of June through October are: August September October July June $310,000 $330,000 $300,000 $280,000 $260,000 Budgeted sales Budgeted purchases $144,000 $120,000 $128,000 $132,000 $90,000 . Customer amounts on account are collected 60% in the month of sale and 40% in the following month. . Cost of goods sold is 45% of sales. . Drew purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. How much cash is budgeted to be received during August? $312,000. O $318,000. O $291,000. $180,000. ) hp 19 4 fn + ins prt sc delete home end & 7 6 num backspace lock P home H J K 4 enter
Question 2 View Policies Current Attempt in Progress Drew Enterprises reports all its sales on credit, and pays operating costs in the month incurred. Estimated amounts for the months of June through October are: August September October July June $310,000 $330,000 $300,000 $280,000 $260,000 Budgeted sales Budgeted purchases $144,000 $120,000 $128,000 $132,000 $90,000 . Customer amounts on account are collected 60% in the month of sale and 40% in the following month. . Cost of goods sold is 45% of sales. . Drew purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. How much cash is budgeted to be received during August? $312,000. O $318,000. O $291,000. $180,000. ) hp 19 4 fn + ins prt sc delete home end & 7 6 num backspace lock P home H J K 4 enter
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Question 2
View Policies
Current Attempt in Progress
Drew Enterprises reports all its sales on credit, and pays operating costs in the month incurred. Estimated amounts for
the months of June through October are:
August September October
July
June
$310,000 $330,000 $300,000 $280,000 $260,000
Budgeted sales
Budgeted purchases $144,000 $120,000 $128,000 $132,000 $90,000
. Customer amounts on account are collected 60% in the month of sale and 40% in the following month.
. Cost of goods sold is 45% of sales.
. Drew purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month.
How much cash is budgeted to be received during August?
$312,000.
O $318,000.
O $291,000.
$180,000.
)
hp
19 4
fn
+
ins
prt sc
delete
home
end
&
7
6
num
backspace
lock
P
home
H
J
K
4
enter
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