Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $320,000, and $410,000, respectively, for September, October, and November. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 30% in the month following the sale.
The cash collections in October are:
$320,000
$248,000
$304,250
$382,500
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A company has $294,000 in credit sales. The company uses the allowance method to account for uncollectible accounts. The Allowance for Doubtful Accounts now has a $2,210 credit balance.
Answers (1)
When denying a claim, what approach should you not use? Check all that apply. " A. You" statements that sound preachy B. Reasons-before-refusal pattern C. Language that is objective and neutral D. Lccusations that imply the customer is dishonest
Answers (1)
Classify each of the following expenditures paid in 2019 as a deduction for AGI, a deduction from AGI, or not deductible: a. Roberto gives cash to his father as a birthday gift. b. Sandra gives cash to her church. c. Albert pays Dr.
Answers (1)
Security is not an issue with the use of ATMs. a. True b. False
Answers (1)
JP Wholesalers is one of the largest wholesalers of wooden furnishings in the country. Recently, the company opened a chain of stores called JP Designer Homes that has become popular due to the good reputation the company has as a wholesaler.
Answers (1)
New Questions in Business
1. Identify a company or organization from which you have received high-quality products and describe the characteristics which make it high quality. 2.
Answers (1)
Consider the following list of accounts: Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Receivable Accounts Payable Common Stock Equipment Dividends How many of these accounts have a normal debit balance?
Answers (1)
On July 9, Mifflin Company receives an $7,400, 90-day, 10% note from customer Payton Summers as payment on account.
Answers (1)
Which of the following preventive strategies is described below: Violence often escalates. Behaviors like excessive complaining, hostility, threats, swearing, and sabotage frequently precede more violent incidents.
Answers (1)
Malinda took a client to dinner meeting. After agreeing to a business deal, they went to see a show. Malinda paid $100 for the meal and separately paid $45 for the show tickets, amounts that were reasonable under the circumstances.
Answers (1)