Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. e8-11 (algo) calculating cash receipts [lo 8-4] sh

E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 560 sun shades...

60.1K

Verified Solution

Question

Accounting

image
E8-11 (Algo) Calculating Cash Receipts [LO 8-4] Shadee Corporation expects to sell 560 sun shades in May and 380 in June. Each shades sells for $12. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 39 percent is collected during the following month, and 7 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar

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

Medical Sciences
1.2K views

1. What are Branchiootic and branchiootorenal syndromes? What are some of the morphological abnormalities associated with the...

Psychology
1.2K views

Discuss bullying behavior throughout development. Be sure to include: -Criteria for behavior to be considered bullying - The...

Calculus
1.2K views

8 Determine whether both of the following improper integrals converge or diverge If it converges...

Algebra
1.2K views

N K 65 85 146 48 mi M 64 L miles W 32 mi 65...

Algebra
1.2K views

Consider the following quadratic function a Determine the coordinates of the vertex and classify it...

Algebra
1.2K views

25 Given two circles whose radii are 63 and 28 the ratio of their circumferences...

Accounting
1.2K views

h. 120,925 11 51939 D. st7 nas

Accounting
1.2K views

2) Tybee Industries Inc. uses a job order cost system. The following data summarize the...

Accounting
1.2K views

Identify firm specific strategies for achieving competitive advantage within an industry.

Accounting
1.2K views

The following information is taken from Carla Vista Corp's balance sheet at December 31, 2021....

Accounting
1.2K views

A company's revenue from selling x units of an item is given as R=1600xx^2 If...

Accounting
1.2K views

On September 1, Year 1, West Company borrowed $30,000 from Valley Bank. West agreed to...