1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lana71 [14]
3 years ago
9

Memphis Company anticipates total sales for April, May, and June of $970,000, $1,070,000, and $1,120,000 respectively. Cash sale

s are normally 20% of total sales. Of the credit sales, 40% are collected in the same month as the sale, 55% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales during the month of June.Multiple Choice$829,200.$730,400.$983,200.$1,053,200.$769,200.
Business
1 answer:
Crank3 years ago
8 0

Answer:

Total cash collection= $1,053,200

Explanation:

Giving the following information:

Sales:

April $970,000

May $1,070,000

June $1,120,000

Cash sales are normally 20% of total sales. <u>Of the credit sales,</u> 40% are collected in the same month as the sale, 55% are collected during the first month after the sale, and the remaining 5% are not collected.

<u>To calculate the total cash collection for June, we need to use the following structure:</u>

Cash collection June:

Sales in cash from June= (1,120,000*0.2)= 224,000

Sales in account from June= (1,120,000*0.8)*0.4= 358,400

Sales in account from May= (1,070,000*0.8)*0.55= 470,800

Total cash collection= $1,053,200

You might be interested in
A car travels at a speed of 30mph.How far does the car travel in 2 hours​
Oksana_A [137]
Answer: 60 miles


If it goes 30 miles per hour, then it would go 60 miles in two hours.
7 0
3 years ago
Read 2 more answers
An earned value report shows: how much money has actually been spent so far on the project. slippages in performance measures fo
Fynjy0 [20]

An earned value report will likely show all of these measures.

8 0
3 years ago
Assets Liabilities
olganol [36]

Answer:

1. What is the net working capital for the above company?

Net Working Capital will be 45

2. If the company pays back all of its accounts payable today using cash, what will its net working capital be (in million of USDs)?

Net Working Capital will be 45

3. If the company buys new property, plant and equipment today using its entire cash balance, what will its net working capital be (in million of USDs)?

Net Working Capital will be -1

Explanation:

1.

Net Working Capital = Total Current Asset - Total Current Liabilities

Net Working Capital = 89 - 44 = 45

2.

Current Asset after payment = 89 - 39 = 50

Current Liabilities after payment = 44 - 39 = 5

Net Working Capital = Total Current Asset - Total Current Liabilities

Net Working Capital = 50 - 5 = 45

3.

Current Asset after Purchase = 89 - 46 = 43

Current Liabilities after Purchase = 44 - 0 = 44

Net Working Capital = 43 - 44 = -1

4 0
3 years ago
A value-based pricing strategy most likely begins with ________.
noname [10]
A value-based pricing strategy most likely begins with looking at their customers needs.  

When you have a value-based pricing strategy, you are determining price based on the value you think your good or service will be valued at to the customer.  Retailers can generally sell their items for more than cost of the product if the value is perceived by the customer to be high.
7 0
4 years ago
The production possibilities frontier shows the ________ combinations of two products that may be produced in a particular time
maxonik [38]

Answer:

Option (a) is correct.

Explanation:

The production possibility frontier curve is a graphical representation of all the points or combination of two commodities that an economy can produce with the limited or available resources.

All the points on the PPF curve shows the best combination of two goods, all the points below that curve shows that resources are not fully utilized and all the points above that curve shows that allocations are not achievable.

5 0
4 years ago
Other questions:
  • According to the specifc components designed for effective salesperson follow-up, ___________ refers to the salesperson applying
    11·1 answer
  • The returns on the Bledsoe Small-Cap Fund are the most volatile of all the mutual funds offered in the 401(k) plan. Why would yo
    8·1 answer
  • Enlightened marketing calls for building long-run consumer engagement, loyalty, and relationships by continually improving the b
    15·2 answers
  • The consumer price index is __
    9·1 answer
  • What types of businesses are likely to have an informal corporate culture?
    7·2 answers
  • Rivoli Inc. hired you as a consultant to help estimate its cost of capital. You have been provided with the following data: D0 =
    15·1 answer
  • A manufacturer reports the following costs to produce 10,000 units in its first year of operations: Direct materials, $10 per un
    13·1 answer
  • Gullett Corporation had $37,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona
    11·1 answer
  • ACCOUNT TITLE
    10·1 answer
  • Luxury motors introduced a new car to its already popular sedan line. The new car sold very well in its first year, so the compa
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!