Elordi Engineers Corp. has the following budgeted sales data (in dollars): ...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Elordi Engineers Corp. has the following budgeted sales data (in dollars):
| June | July | August | September | |
| Credit Sales | 290,000 | 270,000 | 260,000 | 290,000 |
| Cash Sales | 70,000 | 60,000 | 80,000 | 90,000 |
The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following sale, and the remainder in the second month following the month of sale. There are no bad debts.
What would the budgeted cash receipts during September be?
Round your answer to the nearest whole number.
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.