16:44C73< 10-22-1ZAD1The following data were obtained from the financial records of Sonicbrush, Inc., for M arch:Estimated sales$330,000Purchases$179,431Ending inventoryAdministrative salaries per month$ 70,200Marketing expense3%**Sales commissions4%**Rent expense per month$8,400Depreciation expense per month$1,200$ 2,800Utilities per monthTaxes15%****of next month's sales**of sales***of income before taxesSales are expected to increase each month by 15%. Prepare a budgeted income statement.ZAD2Nonna's Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40%in the month after the sale. Given the following sales, how much cash will be collected inFebruary?Dec. 2017 Jan. 2018Feb. 2018$20,000$60,000$70,000lBroj riječiPrikažiimenik15%*DMobilniprikaz4G+ÚUredi

Comment - Multiple Questions Asked. ZAD2 Sales- A company's sales revenue is the money it makes from…

ZAD2 Nonna's Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February? Dec. 2017 Jan. 2018 Feb. 2018 $20,000 $60,000 $70,000

ZAD2 Nonna's Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February? Dec. 2017 Jan. 2018 Feb. 2018 $20,000 $60,000 $70,000

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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