Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ratchet manufacturing anticipates total sales for

Ratchet Manufacturing anticipates total sales for August, September, and October of $250,000,$260,000, and $270,500 respectively....

80.2K

Verified Solution

Question

Accounting

Ratchet Manufacturing anticipates total sales for August, September, and October of $250,000,$260,000, and $270,500 respectively. Cash sales are normally 30% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet at the end of August.
Multiple Choice
$175,000.
$75,000
$182,000.
image

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

Finance
1.2K views

(Calculating project cash flows and? NPV) Raymobile Motors is considering the purchase of a new production machine...

Biology
1.2K views

he diagram below shows a bacterial replication fork and its principal proteins rag the labels...

Physics
1.2K views

Ho n n transparent slabs are arranged one on top of each other The refractive...

Physics
1.2K views

A disk-shaped merry-go-round of radius 2.63 m and mass 155 kg rotates freely with an...

Basic Math
1.2K views

12 Synthetic polymers are another name for O A nylon O B plastics OC ethers...

Basic Math
1.2K views

What's the probability of rolling the die twice and having it land on 5 both...

Algebra
1.2K views

Given ATUV when ZV is the right angle and t 18 and u 25 the...

Accounting
1.2K views

Lindsay has an investment that pays her $75,000 every year for the next 8 years....

Accounting
1.2K views

Magenta Company received an invoice of $27,700 for catering services at their annual company picnic....

Accounting
1.2K views

impairment of assets On January 1, 2010, the company acquired an equipment for P8,000,000...

Accounting
1.2K views

Surplus Tyre Company produces and sells 40,000 tyres per month. The normal sales price is...

Finance
1.2K views

Bellwood Corp. is comparing two different capital structures. Plan I would result in 21,000 shares...