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OverLord2011 [107]
3 years ago
12

Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectivel

y. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of cash received for august.
Business
1 answer:
iren2701 [21]3 years ago
8 0

Answer:

Cash received for August= $50,000

Explanation:

The sales below were given

August $200,000

September $210,000

October $220,500

The cash sales per month is 25% of total sales and the credit portion is carried over to the next month when cash is received.

As we are calculating cash inflow for August there is no carryover cash from previous month (August is the first month)

Cash received for August= 0.25* 200,000

Cash received for August= $50,000

The remaining sales is on credit 200,000-50,000= $150,000

And will be received in September.

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Answer:

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3 years ago
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rose ordered a package of macaroons from an out of state bakery. she received the cookies the following week. what type of e-com
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Rose ordered a package of macaroons from an out-of-state bakery. she received the cookies the following week, the type of e-commerce product is Physical.

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Based on the following information, calculate net income for Dana's Dress Shop using the traditional format. Sales $360,000 Gros
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Answer:

$80,000

Explanation:

Calculation for the net income for Dana's Dress Shop using the traditional format

NET INCOME USING TRADITIONAL FORMAT

Using this formula

NET INCOME=Gross Margin -Total Selling & Administrative Expenses

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