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Svetlanka [38]
3 years ago
13

On average, 35% of the sales on account are collected in the month of sale, 40% are collected in the month following sale, 10% a

re collected in the second month following sale, and the remaining 15% is collected three months after the month of sale. Calculate the expected cash collections for April.
Business
2 answers:
stellarik [79]3 years ago
4 0

Answer:

35% of sales(say $2,000,000) in April

$700,000

Explanation:

Step one :

Assuming that the sales made for April is $2,000,000

According to the conditions in which money is collected 35% of sales made for a month is collected for the month

For april the expected amount

=35/100*2,000,000

=$700,000

tatuchka [14]3 years ago
3 0

Question: Your question is incomplete. Below is the complete question and the answer.

Shown below are the budgeted sales for ABC Company for the next six months:

                  Sales for Cash     Sales on Account  

January               $15,000             $ 70,000

February              $18,000             $ 80,000

March                 $14,000             $160,000

April                 $26,000             $120,000

May                   $18,000             $170,000

June                  $24,000             $105,000

On average, 35% of the sales on account are collected in the month of sale,

40% are collected in the month following sale, 10% are collected in the

second month following sale, and the remaining 15% is collected three months

after the month of sale.

1. Calculate the expected cash collections for April.

Answer:

The expected cash collections for April is  $150,500

Explanation:

                                       ABC Company

                         Expected cash collections for April

April cash collection

Cash sales                                                            $26,000

January sales collected April                             $10,500

 70,000 x 15%                                            

February sales collected in April                       $8,000

    80,000 x 10%  

March sales collected in April                           $64,000

  160,000 x 40%

April sales collected in April                              $42,000

  120,000 x 35%  

Total cash collections                                         $150,500

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