9) The Stokes Company has obtained the following sales forecast data: April May June July...
70.2K
Verified Solution
Link Copied!
Question
Accounting
9) The Stokes Company has obtained the following sales forecast data: April May June July Cash Sales $80,000 $70,000 $50,000 $60,000 $340,00 0 $320,00 0 $280,00 0 $300,00 0 Credit Sales The regular pattern of collection of credit sales is 25% in the month of sale and 75% in the month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on June 30th is: a. $225,000 b. $70,000 C. $247,500 d. $210,000
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: Zin AI - Your personal assistant for all your inquiries!
