Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. parvis makes all sales on account, subject to the

Parvis makes all sales on account, subject to the following collection pattern: 25% are collected...

80.2K

Verified Solution

Question

Accounting

Parvis makes all sales on account, subject to the following collection pattern: 25% are collected in the month of sale; 60% are collected in the first month after sale; and 15% are collected in the second month after sale. If sales for October, November, and December were $77,000, $67,000, and $57,000, respectively, what was the budgeted receivables balance on December 31?

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

Chemistry
1.2K views

what other techniques are similar to protein crystallization?

General Management
1.2K views

What motivates you in the workplace? List 2-4 various factors that motivate you the most in...

Accounting
1.2K views

Davis, Inc., had the following quality costs for the years ended December 31, 20x4 and 20x5: 20x4 20x5 Prevention...

Biology
1.2K views

The molecule you are studying contains many glycosidic bonds. There is most likelya monosaccharide, like...

Physics
1.2K views

10 A compression at a constant pressure of 40 kPa is performed on 6 0...

Basic Math
1.2K views

A classroom of 29 students wants to save up to buy an elephant. They need...

Calculus
1.2K views

Question Watch Video Show Examples A quantity with an initial value of 980 decays exponentially...

Accounting
1.2K views

Using the full cost accounting, TJX Co. abandoned a proved property during the year. Costs...

Accounting
1.2K views

Zhang incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation...

Accounting
1.2K views

A random variable X has range (0,2), and p.d.f. given by f(x)=Kx3(12x)0

Finance
1.2K views

100 grows to 107 in 6 months. Find each of the following: (a) The effective...

Finance
1.2K views

1. Sam has a $18,000 car loan to be repaid over 6 years at 7.5%...