1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nat2105 [25]
3 years ago
15

Kennedy Enterprises has budgeted sales for the months of September and October at $ 110 comma 000 and $ 170 comma 000​, respecti

vely. Monthly sales are 60​% credit and 40​% cash. Of the credit​ sales, 10​% are collected in the month of sale and 90​% are collected in the following month. What are the October cash collections from​ customers?
Business
1 answer:
Andru [333]3 years ago
7 0

Answer:

The answer is $137,600

Explanation:

Budgeted sales for September = $110,000

Budgeted sales for October = $170,000

Credit sales for September:

0.6 x $110,000

$66,000

90% will be collected the following month (October)

0.9 x $66,000

=$59,400.

Credit sales for October:

0.6 x $170,000

$102,000

10% will be collected the same month (October)

0.1 x $102,000

=$10,200

Cash sales in October

0.4 x $170,000

$68,000

The total October cash collections from​ customers is

$59,400 + $10,200 + $68,000

= $137,600

You might be interested in
Explain how union membership has affected minorities, women, older workers, and part-time workers.
Wittaler [7]

Answer:

they

Explanation:

they

8 0
3 years ago
Banks pay interest to customers through a
nexus9112 [7]

Answer:

mortgage account

For me:

I like that among us account perfect

3 0
2 years ago
Read 2 more answers
Question(2 points) Consider the following balance sheet for the Wahoo Bank. Use it to answer the two questions that follow. Use
lidiya [134]

Answer:

C. Required reserves decrease by $20.

D. Outstanding liabilities decrease by $200.

A. Required reserves increase by $65.00.

D. Outstanding liabilities increase by $650.

Explanation:

<u>PART I:</u><u> The withdrawal from the checking accounts:</u>

makes the required reserves to decrease as there is less cash deposists.

Also, the bank no longer has the obligation to give this 200 dollars to Shantee thus, otstanding liabilities decrease by 200 as well:

checking deposits 200 debit

               cash                            200 credit

<u>PART II:</u><u> Deposit in a checking account</u>

This is the opposite. The bank reserve must increase by 10% of the deposit

650 x 10% = 65

And the outstanding liaiblities increase by the full amount as later the bank will give back 650 dollars to Dalon in the future.

3 0
3 years ago
Martha and Gordon purchased a home for $175,000 six years ago with a 5.5 percent, 30-year $140,000 mortgage. Their home now has
aliya0001 [1]

Answer:

The correct answer is A that is $76,000

Explanation:

Home equity is the market value of a home owner un-mortgaged interest in the real property, which is the difference among the home's fair market value and the outstanding balance of all liens on the property.

So, it is computed as:

Home Equity = Market value - Outstanding balance

= $210,000 - $134,000

= $76,000

4 0
3 years ago
Explain the difference between socialism and a pure command economy
AleksandrR [38]
Command economies have public enterprises where the government controls everything including business and production. In socialism, the means of production, distribution, and exchange are owned or regulated by the community as a whole. 
4 0
3 years ago
Other questions:
  • Would you be interested in subscribing to 100 mbps ftth for a monthly price of $75? why or why not?
    12·1 answer
  • The table above shows the demand schedules for looseminus−leaf tea of two individuals​ (sunil and​ mia) and the rest of the mark
    13·1 answer
  • When demand is unit​ elastic, a change in price causes total revenue to stay the same because A. total revenue never changes wit
    14·1 answer
  • Every year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator, who chooses
    5·1 answer
  • Rita, a salesperson in a textile manufacturing company, makes a sales pitch to a representative of a garment manufacturing compa
    7·1 answer
  • On 12/31/10, Heaton Industries Inc. reported retained earnings of $675,000 on its balance sheet, and it reported that it had $17
    9·1 answer
  • __________is a process whereby companies compare their practices and performance measurements to those of other companies.
    13·1 answer
  • This year, Amy purchased $1,900 of equipment for use in her business. However, the machine was damaged in a traffic accident whi
    11·1 answer
  • During 2020, Concord Company started a construction job with a contract price of $1,580,000. The job was completed in 2022. The
    6·1 answer
  • What operations management function is most important to complete prior to inventory​ management? Part 2
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!