Answer:
The answer is $137,600
Explanation:
Budgeted sales for September = $110,000
Budgeted sales for October = $170,000
Credit sales for September:
0.6 x $110,000
$66,000
90% will be collected the following month (October)
0.9 x $66,000
=$59,400.
Credit sales for October:
0.6 x $170,000
$102,000
10% will be collected the same month (October)
0.1 x $102,000
=$10,200
Cash sales in October
0.4 x $170,000
$68,000
The total October cash collections from customers is
$59,400 + $10,200 + $68,000
= $137,600
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Marketing strategy, executive summary, situation analysis, controls,financials hope this helps
Answer:
c. $9,702
Explanation:
Elias Corporation has issued 10% bond the semi annual rate of bond is 10%. The 10% rate is divided by 2 to find the actual semi annual rate of interest on the bond. The rate of bond is 5%. The amount at which bond can be sold will be used to calculate interest expense of the bond.
$97,020 * 5% = $4,851
The annual interest expense will be, $4,851 * 2 = $9,702
The correct answer is c.$9,702
