Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. manu has forecast sales to be $32,000 in february,

Manu has forecast sales to be $32,000 in February, $41,400 in March, $53,200 in April,...

90.2K

Verified Solution

Question

Accounting

Manu has forecast sales to be $32,000 in February, $41,400 in March, $53,200 in April, and $58,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month following. What are the total budgeted cash receipts in March? What is the accounts receivable balance as of April 30 ? Prepare the cash receipts budget Item Calculation Amount

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

a.)Using disks or washers, find the volume of the solid obtained by rotating the region bounded...

Civil Engineering
1.2K views

(a) Schematically explain how size of a rock sample affects the strength of the rock in...

Psychology
1.2K views

Discuss the historical background and significance of the emergence of Christianity. (about 200 words)

Biology
1.2K views

A population started with 100 individuals. Over a year, population data were collected. Calculate birth...

Biology
1.2K views

According to the AMA, using an electronic claim instead of paper can provide a savings...

Basic Math
1.2K views

Write ?-200 in simplest radical form.

Statistics
1.2K views

A certain drug can be used to reduce the acid produced by the body and...

Accounting
1.2K views

Journalize purchase and sales transactions under a perpetual and periodic inventory system Kern's Book...

Accounting
1.2K views

Leonardo, who is married but files separately, earns $84,200 of taxable income. He also has...

Accounting
1.2K views

Ida Company produces a handcrafted musical instrument called a gamelan that is simllar to a...

Accounting
1.2K views

D Question 5 1 pts Activity-based costing differs from plantwide predetermined overhead rate in which...

Finance
1.2K views

The Best Manufacturing Company is considering a new investment. Financial projections for the investment are...