Fill in the missing amounts in the following schedules. Half of each month's sales are on account. March sales amounted to $189,000. 60% of credit sales is collected in the month of sale; 40% is collected in the following month.
April May June
Sales $268,000 $201,000 $303,600
Cash receipts:
From cash sales $134,000 $100,500 $151,800
From sales on account 113,900
Total cash receipts $214,400
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Fill in the missing amounts in the following schedules. Half of each month's sales are on account. March sales amounted to $189,000. 60% of ...” 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
Niles Company granted 111 million of its no par common shares to executives, subject to forfeiture if employment is terminated within three years.
Answers (1)
A monopolist that earns positive economic profit in the short run will
Answers (1)
True or False: If Bob's Fire Engines were a competitive firm instead and $100,000 were the market price for an engine, decreasing its price from $100,000 to $50,000 would result in the same change in the production quantity and, thus, total revenue.
Answers (1)
Payments made to a foreign country without receiving a direct good or service in return are called
Answers (1)
While a mechanic works on his car, a taxi driver takes Robert to his job as a warehouse laborer. At the end of his shift, he makes a reservation with an airline ticket agent and flies across the country on vacation.
Answers (2)
New Questions in Business
1. During the Middle Ages, courtly love was embodied in the behavior of a knight toward the fine lady he loved. He would prostrate himself before her, idealize her, carry her favor into battle, but never demonstrate physical love for her.
Answers (1)
Northern Illinois Company expects to sell 36,000 units of finished goods over the next 6-month period. The company has 12,000 finished units on hand and its managers want to have 14,000 units on hand at the end of the period.
Answers (1)
Sally's Sod Inc. provides lawn maintenance and has two different packages: Standard and Deluxe. Selected data related to each package is as follows: Standard Deluxe Contribution margin per package $40 $120 Direct labor hours per package 2 3 For the
Answers (1)
The traditional business model of accounting is inadequate for governments and not-for-profit organizations primarily because businesses differ from governments and not-for-profit organizations in that
Answers (1)
Slick Heating Company has $492,000 in direct labor expense, $318,000 in direct material expense, $24,000 in factory rent, and $98,000 in production supervisory overhead. What will be the total product cost under activity-based costing?
Answers (1)