XYZ Company produces and sells one product. The budgeted selling price per unit is $30. Budgeted unit sales for July, August, September, October and November are 1,400 units, 2 100 units, 3,400 units. 2700 units and 4,200 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale, 50% in the month following sales and the remaining 20% in the second month foilowing sale. The expected total cash collections in September is closest to: Select one: O a. None of the given answers O b. $70,500 Oc $94,000 O d. 596.300 O e $82.250

XYZ Company produces and sells one product. The budgeted selling price per unit is $30. Budgeted unit sales for July, August, September, October and November are 1,400 units, 2 100 units, 3,400 units. 2700 units and 4,200 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale, 50% in the month following sales and the remaining 20% in the second month foilowing sale. The expected total cash collections in September is closest to: Select one: O a. None of the given answers O b. $70,500 Oc $94,000 O d. 596.300 O e $82.250

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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