Thomas & Cooke Corporation has the following sales forecasts for the first three months of the current year: Month Sales Jan
uary $39,000 February 26,000 March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in the following month. Accounts receivable balance (January 1) $25,800 Cash balance (January 1) 25,000 Minimum cash balance needed 22,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $50,000 is paid out during January?
1 answer:
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Picture relating to the question is attached below :
Answer:
Esmerelda did not use the recipro al of the Divisor.
Esmerelda added the numerator
Esmerelda added the denominator
Explanation:
Esmerelda's work:
-5 1/4 ÷ 3/2= -21/4 ÷3/2 = (-21/4)(3/2) = -24/6 = - 4
Esmerelda's errors:
When changing the quotient sign to multiplication ; the reciprocal of the denominator should be used to divide the numerator :
Hence,
-21/4 ÷3/2 = (-21/4)(3/2) (wrong expression)
-21/4 ÷3/2 = (-21/4)(2/3) (correct expression)
Also,
(-21/4)(3/2) = -24/6 ( wrong simplification)
The bracket symbol indicates multiplication. Hence, the values should be multiplied. The two Numerator values and the two denominator values.
