In product development, what are "specifications"?

Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeM

Travka [436]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Sales:

30% on cash

70% on account

Sales on account:

25% in the month of the sale

75% in the following month

October $133,000

November 166,000

December 243,000

The Accounts Receivable balance on September 30 was $89,000.

Cash collection October:

Sales on cash= 133,000*0.30= 39,900

Sales on account from October= (133,000*0.7)*0.25= 23,275

Sales on account September= 89,000

Total cash collection= $152,175

Cash collection November:

Sales on cash= 166,000*0.30= 49,800

Sales on account from October= (166,000*0.7)*0.25= 29,050

Sales on account October= (133,000*0.7)*0.75= 69,825

Total cash collection= $148,675

Cash collection December:

Sales on cash= 243,000*0.30= 72,900

Sales on account from October= (243,000*0.7)*0.25= 42,525

Sales on account October= (166,000*0.7)*0.75= 87,150

Total cash collection= $202,575

4 0

3 years ago

on february 1, the company determined that $7,200 in customer accounts was uncollectible; specifically, $1,100 for oakley compan

Colt1911 [192]

1100 is Accounts Receivable for the company determined that $7,200 in customer accounts was uncollectible; specifically, $1,100 for oakley company and $6,100 for brookes company.

Feb 1 Allowance for Doubtful Accounts 7200

Accounts Receivable - Oakley 1100

Accounts Receivable - Brookes 6100

Jun5 Accounts Receivable - Oakley 1100

Allowance for Doubtful Accounts 1100

Jun 5 Cash 1100

Accounts Receivable - Oakley 1100

Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have company not yet accounts receivable been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.

The term "accounts receivable" refers to any unpaid bills or cash that a business is owed by customers. The word refers to accounts that a accounts receivable company is entitled to get as a result of delivering a good or service. Accounts receivable, also known as receivables, are a company type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame.

Learn more about accounts receivable here

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3 0

1 year ago

What is an action plan

lukranit [14]

A plan that will help you do what is needed

7 0

4 years ago

Sophie made pies and sold them from her food trailer at businesses. This is an example of a(n)A. direct marketing channel.B. dis

BigorU [14]

Answer:

Letter A is correct. Direct marketing channel.

Explanation:

A distribution channel is the most effective way a company decides to get its products to the end consumer at the right place at the right time. Intermediaries or business chains can be used to get the good to the customer. Some examples of distribution channels are: manufacturer, internet, retailers and shipping centers. Distribution channels can be direct or indirect.

In the case of the above question, Sophie's sales occurred through a direct distribution marketing channel, because this is configured as the one where the consumer can purchase the product or service direct from the manufacturer, there are no intermediaries for the product to reach the final customer. And proper transportation or logistics teams are also used to effectively deliver directly.

6 0

3 years ago

Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn’s house. At the end of the current period, Em

Travka [436]

Answer: 1155

Explanation:

The solution guess thus to calculate the units in Ending Inventory:

Units of product on hand: 800 units

Add: Units in transit 180

Add: Units on consignment 200

Less: Damaged units 25

The number of units that Emma should include in her company’s period-end inventory will be:

= (800+180+200) - 25

= 1180 - 25

= 1155

3 0

3 years ago