Crane Company has the following sales data: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000
Sales on Account $50000 $59,001 $65000 $74,490 $100000 Crane Company's credit customers have the following payment history: 40% in month of sale 57% in month following sale the rest are never collected What are budgeted cash receipts for September?
<span>sole proprietorship. With careful itemization of business expenses, they will receive a moderate tax refund. Receipt retention and careful bookkeeping is essential. An accounting software program to track expenses and income would be quite helpful. It is recommended that they hire a tax firm that specializes in small business returns to minimize tax due or recoup the full amount due to them.</span>
They function as consumers and producers because while they work, they are creating goods/ providing services that contribute to the economy. When they get paid, they become consumers who buy goods/pay for services.
