1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
valina [46]
3 years ago
11

McLeod Fries, Inc. has budgeted sales for June and July at $670,000 and $770,000, respectively. Sales are 85% credit, of which 6

0% is collected in the month of sale and 40% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31? $308,000 $261,800 $227,800 $654,500
Business
1 answer:
ratelena [41]3 years ago
8 0

Answer:

Account receivable on July 31 = $261,800

Explanation:

We would not be making use of the information for June as the question says 60% is collected in the month of sale and 40% is collected in the following month . Therefore as at July 31, all of june sales would have been collected and won't be outstanding

July credit sales = 85% * $770,000 = $654,500

Collected in July (60%) = 60% * $654,500 = $392,700

Receivable as at 31 July = $654,500 - $392,700 = $261,800

You might be interested in
1. A major controversy that is yet to be resolved about the Medicare Prescription Drug, Improvement and Modernization Act of 200
qaws [65]

Answer:

C. What the program will ultimately cost the federal government

Explanation:

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 was an attempt to make improvements or amendments to the Social Security Act.  It radically changed the playing field for private plans participating in the Medicare program by substantially raising monthly payment rates in an effort to stabilize the market and reverse the decline in benefit generosity.  It also provided for voluntary prescription drugs under the medicare program.  However, the utilization and cost of the program skyrocketed as soon as the funding source was established.  It has remained unknown what the program will ultimately cost the federal government, no wonder the current administration under Trump wants to turn it upside down.

3 0
3 years ago
Tony is working with a law enforcement agency to place a wiretap pursuant to a legitimate court order. The wiretap will monitor
qaws [65]

Answer: Passive wiretap

Explanation: passive wiretap is the monitoring or recording of data that attempts only to observe a communication flow and gain knowledge of the data it contains, but does not alter or otherwise affect that flow. Wiretapping is a process in which passive devices are used to monitor or record data that are being transmitted in a line or a loop, Passive wiretapping happens when attackers are trying to obtain users information through the communication channel.

4 0
3 years ago
Dita takes out a student loan from Everloan Bank. When she fails to make the scheduled payments for six months, Everloan advises
kap26 [50]

Answer:This violates no federal law

Explanation:

Federal laws are bills that have passed both houses of Congress, been signed by the president, passed over the president's veto, or allowed to become law without the president's signature. Individual laws, also called acts, are arranged by subject in the United States Code.

6 0
3 years ago
Which of the following statement about renting vs owning is correct
Olin [163]
Rest of the answer? There should be more
6 0
3 years ago
Read 2 more answers
A(n) _____ is a formal meeting between an employer and a job applicant
aivan3 [116]

Answer:

The answer is C; interview

Explanation:

Option A is wrong because a Background check is being done by the HR by researching your information online. So you would not meet with HR face to face.

Option B is wrong because screening applicants' cv without meeting them is also considered as gatekeeper

Option D is wrong because personality test is often carried out through questionnaires,

5 0
3 years ago
Read 2 more answers
Other questions:
  • Taylor Inc. estimates that its average-risk projects have a WACC of 10%, its below-average risk projects have a WACC of 8%, and
    10·1 answer
  • Damian works at the Container Store. While he is placing inventory on the shelves, a customer comes up to him. The customer ment
    15·1 answer
  • A preliminary prospectus:_______.
    11·1 answer
  • You have noticed that paying higher wages attracts more productive employees. However, you are concerned that there may be a lim
    11·1 answer
  • if a bookseller buys a paperback book for 4$ and the book is labeled with a selling price of 6.99,how much is the dollar markup?
    6·1 answer
  • Americans usually recognize hard work, education, and efficiency as desired qualities. where one of these qualities is found, th
    9·1 answer
  • A sale contract stipulates that a buyer is to pay the seller's title insurance expenses. This practice is not customary in the a
    15·1 answer
  • Christiansen and Sons' flexible budget for 10,000 units of production includes $50,000 for direct materials, $44,000 for direct
    14·1 answer
  • Gail dies intestate leaving two (2) children, Benjamin and Christopher. Her daughter Anna died two (2) years earlier. Anna had t
    6·1 answer
  • Which energy source accounts for nearly 7% of global energy consumption, making it the leading fossil fuel alternative
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!