The management of Marigold Industries estimates that credit sales for August, September, October, and November will be $550,000, $735,000, $885,000, and $480,000, respectively. Experience has shown that collections are made as follows: In month of sale   25%   In first month after sale   60%   In second month after sale   10%   Determine the collections from customers in October and November

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Q: Cash Accounts receivable Inventory Budgeted Balance Statemen July 31, 2021 Assets

A: *Estimated account receivable turnover: Credit sales = 345000×80% = $276000 Out of $276000, 30% will…

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A:

Q: A company's history indicates that 25% of its sales are for cash and the rest are on credit.…

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A: WORKING NOTE : 1) The cash sales for any month will be: 0.20 * Sales of that month. 2) Cash…

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A: Income Statement :— It is one of the financial statement that shows profitability, total revenue and…

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A: Formula: Cash collection amount = Sales value x Cash collection ratio

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A: The term "credit sales" means the transfer of ownership of goods and services to a consumer with the…

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Q: June sales were $20,000​, while projected sales for July and August were $50,000 and $71,000​,…

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Q: Jasper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in…

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Q: How much cash will be collected in​ January? In​ February? In​ March? For the quarter in​ total?

A: WORKING NOTE   November December January Febuary March   Sales revenue              16,500…

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.