Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume a company is preparing a budget for its fir

Assume a company is preparing a budget for its first two months of operations. During...

50.1K

Verified Solution

Question

Accounting

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $45,000 and $63,000, respectively. The company expects to collect 45% of its credit sales in the month of the sale and the remaining 55% in the following month. What amount of cash collections from credit sales would the company include in its cash budget for the second month?

Multiple Choice

$28,350

$53,100

$34,650

$48,600

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!
Become a Member

Other questions asked by students

Q

Your boss formed a new company for making pre-stressed concretestructures for bridge segments. She...

Accounting
Q

Hybrid cars are touted as a "green" alternative; however, the financial aspects of hybrid ownership are...

Finance
Q

A diverging lens has a focal length of magnitude 16.2 cm. (a) Locate the images for...

Physics
Q

Show what the expression E • J represents in field theory, what would its analogous expression...

Physics
Q

How will U.S. Healthcare look in 2050?

Economics
Q

In each case, find the conditions for F to be an integral factor. suggestion assume that F...

Advance Math
Q

Price at which the item is sold 47 60 Part 1 of 4 a Write...

Basic Math
Q

Explain how the graph of the function f x 2 can be obtained from the...

Algebra
Q

Isuued a 6 month 6%, note to First Bank on october 31,20X7, to raise $600,000...

Accounting
Q

Sunland, Inc. issued a $95,000,4-year, 10% note at face value to Flint Hills Bank on...

Accounting
Q

Coyote Company sold a merchandise costing $30,000 for $50,000 on credit to Beer Company on...

Accounting
Q

The comparative statements of Flint Interiors Ltd. are presented as follows: FLINT INTERIORS LTD. Income...

Accounting