Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a freddie reeds, a manufacturer of saxophone, oboe

a Freddie Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected The company's...

60.1K

Verified Solution

Question

Accounting

image
image
a Freddie Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected The company's collection history indicates that credit sales are collected as follows: 25% in the month of the sale 60% in the month after the sale 14% two months after the sale 1% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and 2. Prepare a cash collection budget for December and January. Round all answers up to Requirement 1. Prepare a sales budget for all four months, showing the breakdown bet Freddie Reeds Sales Budget For the Four Months Ended January October November December 240000 288000 140000 504000 January Cash sales Credit sales Total sales 380000 792000 HW Score: 50%, 4 of 8 points Part 1 of 2 O Points: 0 of 3 Save d sales to be $898,000 in October, $960,000 in November, $1,050,000 in December, and $928,000 in January. Freddie's sales are 30% cash and 70% credit 42 and credit sales p to the nearest dollar between cash and credit sales

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