Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. page company makes 30% of its sales for cash and 7

Page Company makes 30% of its sales for cash and 70% on account. 60% of...

80.2K

Verified Solution

Question

Accounting

Page Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year:

Month 1 2 3 4
Total sales $60,000 $70,000 $50,000 $30,000

Total cash receipts in Month 4 will be:

$38,000.

$47,900.

$27,230.

$36,230.

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

Psychology
1.2K views

Identify and describe the \"old brain\" structures or areas. Illustrate the function of each area.

Mechanical Engineering
1.2K views

Discuss the different types of pool boiling phenomena. Describe the different behavior regions associated with pool-boiling in...

Electrical Engineering
1.2K views

11. Write a user oriented MATLAB program that will calculate the capacitance of the capacitor connected...

Statistics
1.2K views

Kilgore’s Deli is a small delicatessen located near a major university. Kilgore’s does a large walk-in...

Biology
1.2K views

Choose the correct answer The Soviet Union had a constitution that set up a structure...

Basic Math
1.2K views

Which methods can be used to expand (x+3)?multiply 2 by (2+3), then multiply the product...

Basic Math
1.2K views

For a certain automobile, M(x) = - .015x +1.22x-7.8, 30 ?x? 60, represents the miles...

Statistics
1.2K views

62 Suppose that the distance of fly balls hit to the outfield in baseball is...

Calculus
1.2K views

104 If h x 91 f x find f x

Accounting
1.2K views

The City of Corvallis administers a Tax Agency Fund (AF) that bills and collects property...

Accounting
1.2K views

A valuation model based upon accrual accounting earnings in excess of the opportunity cost of...

Finance
1.2K views

4 pts Question 6 Questions AS-A7 are based on the following information. You are considering...