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5 May, 02:03

Mapleview Inc. has the following budgeted sales:

July $200,000

August $300,000

Sept $250,000

40% of the sales are for cash. 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% for the next month. The total expected cash receipts during September are:

A) $265,000

B) $262,500

C) $250,000

D) $280,000

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Answers (1)
  1. 5 May, 05:48
    0
    Answer: A) $265,000

    Explanation: budgeted sales:

    July $200,000 -

    Cash sales = 200,000 x 40% = 80,000

    Credit sales = 200,000 x 60% = 120,000. 60,000 collected in July, 60,000 collected in August.

    August $300,000 -

    Cash sales = 300,000 x 40% = 120,000

    Credit sales = 300,000 x 60% = 180,000. 90,000 collected in August, 90,000 collected in September

    Sept $250,000-

    Cash sales = 250,000 x 40% = 100,000

    Credit sales = 250,000 x 60% = 150,000. 75,000 collected in September 75,000 collected in October

    Total collected in the month of September is $100,000+$90,000+$75,000 = $265,000
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Home » Business » Mapleview Inc. has the following budgeted sales: July $200,000 August $300,000 Sept $250,000 40% of the sales are for cash. 60% are on credit. For the credit sales, 50% are collected in the month of sale, and 50% for the next month.
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