FINANCIAL ACCOUNTING: TOOL
9th Edition
ISBN: 9781119598305
Author: Kimmel
Publisher: MCGRAW-HILL HIGHER EDUCATION
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- Ferrari Industries is preparing its cash budget for the month of August. The company estimated credit sales for August at $320,000. Actual credit sales for July were $240,000. Estimated collections in August for credit sales in August are 30%. Estimated collections in August for credit sales in July are 55%. Estimated collections in August for credit sales prior to July are $22,000. Estimated write-offs in August for uncollectible credit sales are $14,000. The estimated provision for bad debts in August for credit sales in August is $12,000. What are the estimated cash receipts from accounts receivable collections in August?arrow_forwardI need help with question is correct answer and accountingarrow_forwardWhat is the ending inventory value?arrow_forward
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