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strojnjashka [21]
3 years ago
7

MC Qu. 142 Memphis Company anticipates total... Memphis Company anticipates total sales for April, May, and June of $840,000, $9

40,000, and $990,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales during the month of June.
Business
1 answer:
Bumek [7]3 years ago
3 0

Answer:

Total= $926,400

Explanation:

Giving the following information:

Sale:

April= 840,000

May= 940,000

June= 990,000

Cash sales are normally 20% of total sales.

Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected.

Cash collection for June:

From June in cash= (990,000*0.2)= 198,000

From June in credit= (990,000*0.8)*0.35= 277,200

From May in credit= (940,000*0.8)*60= 451,200

Total= $926,400

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On July 5, Harris Company purchased supplies from the hardware store for $600 on account. On July 10, Harris receives a bill fro
vekshin1

Answer:

Debit Accounts Payable 600, Credit Cash 600

Explanation:

as goods are purchased on credit initially it will be recorded on parable.

And when it will be paid the general entry will be:-

Account payable debit =600

cash credit = 600

Harris record the transaction on July 17

Debit Accounts Payable 600,

Credit Cash 600

3 0
3 years ago
You have been asked to create a code of ethics for the staff of a school paper to follow. Create a list of 10 rules based on the
Daniel [21]
Thank you for coming to Brainly with your questions :)

Here's my answer:

1. No hurtful gossip.
2. Stay professional.
3. Do not publish anything untruthful.
4. Work together as a team.
5. Meet all deadlines on time. 
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7. Avoid stereotyping, including race, ethnic, gender, sexuality, etc.
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10. Support others views besides their own.


I hope this helps you. Please mark Brainliest :) Lemme know if I can do anything else to help you.

-Belle
7 0
3 years ago
A company had a choice between Project X and Project Y. The net present value of Project X is $1,000,000, and the net present va
vekshin1

Answer:

The opportunity cost of that decision is - $250,000

Explanation:

For computing the opportunity cost, we have to use the formula of opportunity cost which is shown below:

= Return of project which is not chosen - the return of a chosen project

= $750,000 - $1,000,000

= - $250,000

Since in the question, it is given that the chosen project is X so we write the project X amount in the formula and the not chosen project of-course is Y.

Hence, the opportunity cost of that decision is - $250,000

8 0
4 years ago
Suppose that the u.s. government doubles its spending on health care. the _____ curve shifts _____, output _____, and prices ___
denpristay [2]

The <u>aggregate demand</u> curve shifts <u>right</u>, output <u>increases</u>, and prices <u>increase</u> when the U.S. government doubles its spending on health care.

Aggregate demand or AD refers to the total demand for all individual goods and services.

The aggregate demand and supply for an economy can be depicted by a schedule, a curve, or even an algebraic equation. Just like the demand and supply for individual goods and services.

The total quantity of all goods and services that the economy demands at various price levels is illustrated by the aggregate demand curve.

Therefore, if the U.S. government doubles its health care spending, the aggregate demand curve shifts right, output rises, and prices rise.

Know what happens when there's equilibrium or when supply and demand meet: brainly.com/question/1342403

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8 0
2 years ago
Assume that the Candyland economy produced approximately 150 candy bars, 80 bags of caramels, and 30 solid chocolate bunnies. If
Paha777 [63]

Answer:

A. 300

Explanation:

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Given that

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Therefore,

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5 0
4 years ago
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