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Murrr4er [49]
3 years ago
15

Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, respectively. It

is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.Compute cash collections from customers for each month.Collections from CustomersCredit SalesJanuaryFebruaryMarchJanuary$$$February
Business
1 answer:
Wittaler [7]3 years ago
3 0

Answer:

January $151,575

February $248,675

March $305,525

Explanation:

The computation of the cash collections is shown below:

January month

= January credit sales × month of sale collection percentage

= $202,100 × 75%

= $151,575

February month

= January credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

= $202,100 × 25% + $264,200 × 75%

= $50,525 + $198,150

= $248,675

March month

= February credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

=  $264,200 × 25%+ $319,300 × 75%

= $66,050 + $239,475

= $305,525

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3 years ago
Advice from most financial advisers states to spend no more than 28% of one's gross monthly income for one's mortgage payment, a
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Answer and Explanation:

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3 years ago
In its 20X3 financial statements, Cris Co. reported interest expense of $85,000 in its income statement and cash paid for intere
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