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Andre45 [30]
3 years ago
15

The Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on cre

dit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of Accounted Receivables on the October 31 budgeted balance sheet? $111,600. $124,000. $67,000. $68,200. $136,400.
Business
1 answer:
Korvikt [17]3 years ago
4 0

Answer:

$68,200

Explanation:

expected sales      248,000

45% cash

45% of 248,000 =   (111,600)

credit sales

55% of 248,00

136,400

50% current month

136,400 x 0.50 =    (68,200)

<u></u>

<u>Ending Receivable  68,200</u>

The beginning receivable are expected to be collected during october (base on the data are 50% of credit sales for september wich are collected entirely on next month)

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Last year mike bought 100 shares of dallas corporation common stock for $53 per share. during the year he received dividends of
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