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Ann [662]
3 years ago
7

Cash Sales Credit Sales January $ 50,000 $ 150,000 February $ 55,000 $ 170,000 March $ 43,000 $ 130,000 April $ 38,000 $ 123,000

May $ 48,000 $ 200,000 June $ 80,000 $ 170,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 50% in month of sale 40% in month following sale 10% in second month following sale The accounts receivable balance on January 1 of the current year was $65,000, of which $42,000 represents uncollected December sales and $23,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be:
Business
1 answer:
Eduardwww [97]3 years ago
5 0

Answer:

<u>Cash collection budget </u>

January

Cash sales $50,000

Credit sales :  

50% of January credit sales         $75,000 ($150,000*50%)

40% of December credit sales $33,600 ($42,000/50%*40%)

10% of November credit sales $23,000 ($23,000/10%*10%)

Total cash collections                 $181,600

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What is input, conversion process, and output
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Think of a machine. You put something in. This is the input. The conversion process is whatever goes on inside the machine. Let's say that the machine will spray paint a vase you put into it.  The vase is the input. The spray painting is the conversion process. What comes out of the machine, or the result, is the output. In our example it would be the painted vase.

The conversion process changes the input into the output.

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3 years ago
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Answer:

remains unchanged as price increases when demand is unit elastic.

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Demand is inelastic if a small change in price has little or no effect on quantity demanded.

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If price is increased and demand is unit elastic, there would be no change in total revenue.

I hope my answer helps you

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