19. Kerrie Inc. collects 65% of its sales on account in the month of the...

80.2K

Verified Solution

Question

Accounting

19. Kerrie Inc. collects 65% of its sales on account in the month of the sale and 35% in the month following the sale. If sales on account are budgeted to be $555,000 for September and $644,000 for October, what are the budgeted cash receipts from sales on account for October?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students