The I. M. Broke Co. has the following collection pattern for its accounts receivable: 40 percent in the month of sale 50 percent in the month following the sale 8 percent in the second month following the sale ts 2 percent uncollectible The company has recent credit sales as follows: April: May: lmell June: P200,000 n420,000 s (elinu ni350,000 nvni gnibe bns Instruction: Determine the expected collections on its receivable for the month of June.
The I. M. Broke Co. has the following collection pattern for its accounts receivable: 40 percent in the month of sale 50 percent in the month following the sale 8 percent in the second month following the sale ts 2 percent uncollectible The company has recent credit sales as follows: April: May: lmell June: P200,000 n420,000 s (elinu ni350,000 nvni gnibe bns Instruction: Determine the expected collections on its receivable for the month of June.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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Transcribed Image Text:7.1
The I. M. Broke Co. has the following collection pattern for its accounts receivable:
40 percent in the month of sale
liw 50 percent in the month following the sale
8 percent in the second month following the sale Snsrti i TOOs 0E lnqA is basd
2 percent uncollectible
a The company has recent credit sales as follows:
April:
Мay:
is bal
no
lw od unl sot 000,as
e3 pon
P200,000
d funns 420,000 budbirinen
anovni gnibre bns
eros 0E
Toy lenell June: lg a (elinu ni350,000
iged gintwolloh
Instruction: Determine the expected collections on its receivable for the month of June.
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