Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gem service anticipates the following sales revenu

Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to...

60.1K

Verified Solution

Question

Accounting

image

Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Gem Service Cash Collections Budget For the Months of January through March January Cash sales Collection of credit sales: 20% Month of sale 40% Month after 30% Two months after Total cash collections A More Info - X Data Table - X 20% in the month of the sale 40% in the month after the sale 30% two months after the sale 10% are never collected November Sales revenue ..........$ 16,900 December $ 11,000 January 15,400 February $ 12,000 March 14,800 $ $ Print Done Print Print | Done

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

Basic Math
1.2K views

Suppose that an airline knows that there is a 95% chance that a passenger for a...

Biology
1.2K views

I marked the correct answers to these questions, but I just want to know how to...

Electrical Engineering
1.2K views

calculate capacitance, inductance, resistance and conductance of two parallel wires transmission line

Biology
1.2K views

Question 7 Points 1 To run for president of the United States a candidate must...

Physics
1.2K views

The figure shows two identical parallel plate capacitors connected to a battery with switch S...

Geometry
1.2K views

41 Beginning with the Koch curve with

Basic Math
1.2K views

Question 4 20 points Is the following statement True or False The graph is CONNECTED...

Basic Math
1.2K views

There are eight online songsthat you would like to download,but you only have enough.money for...

Algebra
1.2K views

Jana invests a sum of money in a retirement account with a fixed annual interest...

Accounting
1.2K views

Bonita Industries produces a product that requires 2.60 pounds of materials per unit....

Accounting
1.2K views

Cuando un trabajo est completo ________. A. La mano de obra indirecta real...

Accounting
1.2K views

, Janzen, Inc., sells all of its production acco unt Janzen has the following accounts...