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artcher [175]
4 years ago
15

Gardner Company expects sales for October of $249,000. Experience suggests that 45% of sales are for cash and 55% are on credit.

The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,500. What is the amount of Accounted Receivables on the October 31 budgeted balance sheet
Business
1 answer:
yarga [219]4 years ago
6 0

Answer:

$68,475

Explanation:

Data provided

Sales in October = $249,000

Credit percentage = 55%

Following month percentage = 50%

The calculation of accounts receivable is shown below:-

Credit sales in October = $249,000 × 55%

= $136,950

Collection collected in October

= $136,950 × 50%

= $68,475

Therefore, for computing the collection collected in October we simply multiply the credit sales in October with following month percentage.

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Answer:

B) General Fund and Library Fund

Explanation:

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only the general fund ($18,400,000 ≥ $2,630,000) and the library fund (2,900,000 ≥ $2,630,000) are higher than the 10% threshold.

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3 years ago
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skad [1K]

Answer:

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Answer:

P = MR = 1

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Answer:discover where the company's product or brand is on these attributes in the minds of potential customers.

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