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Airida [17]
3 years ago
13

Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang

pays a sales manager a monthly salary of $4,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
Business
1 answer:
Colt1911 [192]3 years ago
6 0

Answer:

Total= $292,520

Explanation:

Giving the following information:

Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale.

Cash budget for June:

Sales= [(400*1.03)*750]*0.3= 92,700

Sales from May= (400*750)*0.7= 210,000

Salary= (4,000)

Commision= [(400*1.03)*750]*0.02= (6,180)

Total= $292,520

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A. long-term ability to generate sufficient cash to satisfy plant capacity needs, fuel growth, and to repay debt when due.

Explanation:

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It is used as a measure of the financial health of the business.

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What is the difference between a debit card and a cash card? A. A debit card is less secure than a cash card.  B. A cash card c
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C. A cash card is not tied to a bank account.

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3 years ago
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The financial statements for Harold Corporation contained the following information: Accounts receivable $ 5,000 Sales revenue 7
worty [1.4K]

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Explanation:

Given that,

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Answer:

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Explanation:

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