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OverLord2011 [107]
3 years ago
10

All sales are on account. 35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the

second following month. Budgeted sales for Jan., Feb., Mar. are $50,000; $60,000; $40,000. How much cash is collected in March
Business
1 answer:
sesenic [268]3 years ago
6 0

Answer:

Total cash collection March= $51,000

Explanation:

Giving the following information:

All sales are on account.

35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the second following month.

<u>Cash collection March:</u>

Sales on account from March= (40,000*0.35)= 14,000

Sales on account from February= (60,000*0.45)= 27,000

Sales on account from January= (50,000*0.2)= 10,000

Total cash collection March= $51,000

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A private oil company is embarking on a joint pipeline project with the government. Which type of network will they set up for p
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3 years ago
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Martina, Inc. has two service departments (Human Resources and Building Maintenance) and two production departments (Machining a
ziro4ka [17]

Answer:

The correct answer is option (b) 44,000

Explanation:

Solution

Given that:

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The Square feet over which Building Maintenance cost would be allocated is stated as follows:

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6 0
3 years ago
What is considered a liability in finance and why is it being used?
garri49 [273]

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Universal Travel Inc borrowed $500,000 on November 1, 2018 and signed a twelve month note bearing interest at 6% Principal and i
horrorfan [7]

Answer:

Interest will be $5000

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Explanation:

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