The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 30% of total sales, 55% are credit sales collected in the month following the sale, and the remaining 15% are credit sales that are written off as uncollectible. Prepare a schedule of cash receipts for September.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 30% of total sales, ...” 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
In an investment center, the manager has the responsibility for and the authority to make decisions that affect a. both costs and revenues for the department or division b. costs, revenues, and assets invested in the center c.
Answers (1)
The entry to record the issuance of a note for cash was recorded with a debit to Cash and a credit to Notes Receivable. The effect of recording this entry causes: Select one: A. stockholders' equity to be understated. B. assets to be understated. C.
Answers (1)
Carver Inc. purchased a building and the land on which the building is situated for a total cost of $935,000 cash. The land was appraised at $268,812 and the building at $806,438. Required a.
Answers (1)
The Dominican Republic and Nicaragua both produce coffee and rum. The Dominican Republic can produce 20 thousand tons of coffee per year or 10 thousand barrels of rum.
Answers (1)
Review the patient's vital signs. find the last set of vitals taken. list the date, vital and value
Answers (1)
New Questions in Business
True or false fdr was eager to use deficit spending to end the economic crisis.
Answers (1)
If supply increases while demand decreases A. the equilibrium quantity will definitely increase. B. the equilibrium price will definitely decrease. C. the equilibrium quantity will definitely decrease. D.
Answers (1)
To sit next to her mother at a restaurant, diana pushes her little brother mark out of the way. what type of aggression is this?
Answers (1)
Roger Technologies invests $50,000 to acquire $50,000 face value, 8%, five-year corporate bonds on January 2, 2017. The bonds will mature on January 2, 2022. The bonds pay interest semiannually on January 2 and July 2 each year until maturity.
Answers (1)
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $195,000 and Total Liabilities of $75,000. During the year, the company reported total revenues of $226,000 and expenses of $175,000.
Answers (1)