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Airida [17]
3 years ago
8

Ruiz Co.’s budget includes the following credit sales for the current year: September, $165,000; October, $156,000; November, $1

40,000; December, $177,000. Credit sales are collected as follows: 15% in the month of sale, 55% in the first month after sale, and 30% in the second month after sale. How much cash can the company expect to collect in December as a result of current and past credit sales?
Business
1 answer:
Minchanka [31]3 years ago
8 0

Answer:

$150,350

Explanation:

The computation of the cash collected in December is shown below:

Particulars          Sept          Oct           Nov           Dec

Sales                 $165,000      $156,000       $140,000        $177,000

Given percentage                        30%                 55%                 15%                      

December collection amount   $46,800          $77,000           $26,550

Total December collection                    $150,350

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5 0
3 years ago
Which of the following debit and credit rules is​ correct? A. Decreases in assets and liabilities are credited. B. Increases in
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Answer:

B. Increases in liabilities and​ stockholders' equity are credited.

Explanation:

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3 0
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A municipal bond is paying a 6% annual yield. An equivalent risk corporate bond is paying 7%. Investors with a tax rate of ____
faltersainse [42]

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The correct answer is 25%

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In this way, 25% or more, is a percentage of the tax rate that can make them decide on the municipal bond option.

6 0
3 years ago
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Bumek [7]

Answer:

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