The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: Sales April May $150, e00 $160, 000 $150, 000 June Budgeted cash collections in June would be: Multiple Choice $155.600 $150.000 $149.600 $150.600

The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: Sales April May $150, e00 $160, 000 $150, 000 June Budgeted cash collections in June would be: Multiple Choice $155.600 $150.000 $149.600 $150.600

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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Assume a merchandising company provides the following information from its master budget for the month of May: Sales Cost of goods sold Selling and administrative expenses Accounts receivable, May 1st Accounts receivable, May 31st If all of the company's sales are on account, what is the amount of cash collections from customers included in the cash budget for May? Multiple Choice $109,000 $106,000 $129,000 $ 125,000 $ 90,000 $ 24,000 $ 16,000 $ 35,000 $125,000
The BRS Corporation makes collections on sales according to the following schedule: 45% in month of sale 53% in month following sale 2% in second month following sale The following sales have been budgeted: Sales April $220, 000 $150,000 May June $140, 000 Budgeted cash collections in June would be: Multiple Cholce $140,000 $142,500 $146,900 $140,440
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 55% in month following sale 5% in second month following sale The following sales have been budgeted: April May June Sales $110,000 $120,000 $110,000 Budgeted cash collections in June would be: Multiple Choice $115,500 $110,000 $110,550 $112,000
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subject - accounting
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Dd.60.1
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