Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jemima's outfits has a store in dixie outlet mall.

Jemima's Outfits has a store in Dixie Outlet Mall....

90.2K

Verified Solution

Question

Accounting

image

Jemima's Outfits has a store in Dixie Outlet Mall. Jemima's Outfits specializes in high-class ladies fashions and sells complete outfits for a uniform price of $75 each. The sales budget for 2021 was to sell 6,000 outfits. Assume that 50% of the sales were made for cash, and 50% were made on credit terms. Of the credit customers, 70% pay by the end of the month following the sale, 28% pay by the end of the next month following, and 2% turn into bad debts. Sales for 2021 were as follows: January, 300 outfits; February, 300 outfits; March, 400 outfits; April, 500 outfits; May, 500 outfits. The cash collected in the month of April 2021 would be $25,975 none of those provided $32,400 $30,000 $37,500

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

how would you define and describe the function of DNA within our bodies?

Psychology
1.2K views

Moral Development in School-Age Children Develop a situation that would include a moral dilemma that is likely...

Biology
1.2K views

Which of the following is not a part of the male reproductive system?A.greater vestibular glands...

Physics
1.2K views

105 100 g ice at 0 C is dropped into a calorimeter of water equivalent...

Geometry
1.2K views

olve the following applied problems 1 A rectangular sign is being designed so that the...

Calculus
1.2K views

If f(x) = x + 3x + 4x + 5 and g(x) = 5, then...

Accounting
1.2K views

Which source of debt requires the sale of assets to the lender? Select one: a....

Accounting
1.2K views

The present value of $1,000 received at the end of each year for the next...

Accounting
1.2K views

\table[[Beginning work in process inventory,Units,Complete,Percent Complete],[Units started this period,61,000,65%,35%

Accounting
1.2K views

NOTE: For this question, you must read every reference to a year on Form 4562...

Accounting
1.2K views

Sandhill Candle Supply makes candles. The sales mix (as a percentage of total dollar sales)...

Accounting
1.2K views

part a & b Required information [The following...