Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. save homework: hw #8 - chapter 9 score: 0 of 2 pts

Save Homework: HW #8 - Chapter 9 Score: 0 of 2 pts X S9-11 (similar...

70.2K

Verified Solution

Question

Accounting

image

Save Homework: HW #8 - Chapter 9 Score: 0 of 2 pts X S9-11 (similar to) 3 of 6 (3 complete) HW Score: 19.44%, 1.94 of 10 pts s Question Help Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 20% cash and 80% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? Gem Service Cash Collections Budget For the Months of January throug Data Table - X January 15600 November Sales revenue..........$ 16,700 December $ 10,400 January 15,600 February $ 12,400 March 14,400 $ $ Cash sales Collection of credit sales: 20% Month of sale 40% Month after 2,496 4992 A More Info one 4368 35% Two months after 3120 Total cash collections Enter any number in the edit fields and then click Check Answer. 20% in the month of the sale 40% in the month after the sale 35% two months after the sale 5% are never collected parts remaining Check

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