Ask Question
BusinessBusiness
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

+1
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
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “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 ...” 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
According to economic theory, if farmers find that large bumper crops lead to declines in their gross incomes this suggests that: the price elasticity of demand for farm products is less than 1.
Answers (1)
Helen tells her nephew, Bernard, that she will pay him $100 if he will stop smoking for six months. Helen was hopeful that if Bernard stopped smoking for six months, he would stop altogether.
Answers (2)
New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $700,000.
Answers (1)
It has been reported that 40% of u. s. workers employed as purchasing managers are females. in a simple random sample of u. s. purchasing managers, 70 out of the 200 are females. given this information:
Answers (1)
The Harsanyi Corp. is considering four investments. Which provides the highest after-tax return for Harsanyi Corp. if it is in the 34% federal tax bracket
Answers (1)
New Questions in Business
According to income tax law, John could adjust the cost basis of his personal residence for which of the following items? A. Interest on the home loanB. Cost of adding a new garageC. DepreciationD. Cost of replacing the water heater
Answers (1)
A firm had merchandise inventory of $30,000 on January 1, 2019. During the year the firm had purchases of $54,000, freight in of $1,200, purchases returns and allowances of $2,700, and purchases discounts of $900.
Answers (1)
If the one-year discount factor is 0.8333, what is the discount rate (interest rate) per year?
Answers (1)
Summarized operations for Splish Brothers Inc. for the month of July are as follows. Revenues recognized: for cash $30,000; on account $71,480. Expenses incurred: for cash $26,120; on account $41,220. Indicate for Splish Brothers Inc.
Answers (2)
Which accounting assumption or principle is being violated if a company reports its corporate headquarter building at its fair value on the balance sheet? Monetary unit Full disclosure Historical cost Going concern
Answers (1)
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.
Sign Up Forgot Password?