Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the lagrange corporation had the following budgete

The LaGrange Corporation had the following budgeted sales for the first half of the current...

90.2K

Verified Solution

Question

Accounting

image

image

The LaGrange Corporation had the following budgeted sales for the first half of the current year: The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following informati has been assembled: Collections on sales: 45% in month of sale 35% in month following sale 20% in second month following sale The accounts recelvable balance on January 1 of the current year was $71,000, of which $55,000 represents uncollected December sales and $16,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be: The total cash collected during January by LaGrange Corporation would be: Multiple Choice $195,000 $100,000 $168,500 $241,000

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

A bond has a yield to maturity of 5 percent. It matures in 13 years. Its...

General Management
1.2K views

1. What are the tradeoffs among on-site expansion, new location, and relocation? 2. Explain what the purpose...

General Management
1.2K views

Two social media marketing campaign in Saudi Arabia that failed (Last two years) and why did...

Physics
1.2K views

A force F 31 ci 2k acting on a particle causes a displacement d 41...

Basic Math
1.2K views

Determine the value of y, if x is -12.y = |x|-5

Algebra
1.2K views

5 The zeros of the function f x x 2 25 are 1 3 and...

Algebra
1.2K views

8 5i 8 5i 8i 5 8i 5 nplex Conjugate of

Accounting
1.2K views

The smaller a nation's marginal propensity to import, the smaller the open-economy multiplier....

Accounting
1.2K views

An investor has $70,000 to invest in a CD and a mutual fund. The CD...

Accounting
1.2K views

Oslo Company prepared the following contribution format income statement based on a sales volume of...

Accounting
1.2K views

Identify the impact on the balance sheet if the following information is not used to...

Accounting
1.2K views

(5 points) Jones and Jones CPA firm has the following budget for the year: Direct...