Please do not give solution in image format thanku MThe LaGrange Corporation had the following budgeted sales for the first half of the current yearCashCreditSales Sales$ 90,000 $190,000$ 95,000 $210,000$ 47,000 $170,000$ 42,000 $127,000$ 52,000 $240,000$120,000 $210,000JanuaryFebruaryMarchAprilMayJuneThe company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembledCollections on sales50% in month of sale25% in month following sale25% in second month following saleThe accounts receivable balance on January 1 of the current year was $73,000, of which $46.000 represents uncollected December sales and $27000 represents uncollected November salesThe total cash collected during January by LaGrange Corporation would beMultiple Choice$341,000$92.000$273.000 The LaGrange Corporation had the following budgeted sales for the first half of the current year:CreditCashSalesSales$ 90,000 $190,000$ 95,000 $210,000$ 47,000 $170,000$ 42,000 $127,000$ 52,000 $240,000$120,000 $210,000JanuaryFebruaryMarchAprilMayJuneThe company is in the process of preparing a cash budget and must determine the expected cash collections by month To this end, the following information has been assembledCollections on sales:50% in month of sale425% in month following sale25% in second month following saleThe accounts receivable balance on January 1 of the current year was $73,000, of which $46,000 represents uncollected December sales and $27,000 represents uncollected November salesThe total cash collected during January by LaGrange Corporation would be:Multiple ChoiceO$341,000$92,000$273,000

Cash collection means the amount of money collected by the entity during a particular period from…

The LaGrange Corporation had the following budgeted sales for the first half of the current year Cash Credit Sales Sales $ 90,000 $190,000 $ 95,000 $210,000 $ 47,000 $170,000 $ 42,000 $127,000 $ 52,000 $240,000 $120,000 $210,000 January February March April May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled Collections on sales: 50% in month of sale 4 25% in month following sale 25% in second month following sale The accounts receivable balance on January 1 of the current year was $73,000, of which $46,000 represents uncollected December sales and $27,000 represents uncollected November sales The total cash collected during January by LaGrange Corporation would be: Multiple Choice $341,000 $92.000

The LaGrange Corporation had the following budgeted sales for the first half of the current year Cash Credit Sales Sales $ 90,000 $190,000 $ 95,000 $210,000 $ 47,000 $170,000 $ 42,000 $127,000 $ 52,000 $240,000 $120,000 $210,000 January February March April May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled Collections on sales: 50% in month of sale 4 25% in month following sale 25% in second month following sale The accounts receivable balance on January 1 of the current year was $73,000, of which $46,000 represents uncollected December sales and $27,000 represents uncollected November sales The total cash collected during January by LaGrange Corporation would be: Multiple Choice $341,000 $92.000

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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