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goblinko [34]
3 years ago
15

The Gardner Company expects sales for October of $247,000. Experience suggests that 40% of sales are for cash and 60% are on cre

dit. 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 cash expected to be collected in October
Business
1 answer:
LenKa [72]3 years ago
6 0

Answer: $74100

Explanation:

Based on the information given, the amount of cash expected to be collected in October will be calculated thus:

October, credit sales will be:

= 60% x $247000

= $148200

Since the amount that'll be collected in October will be 50% of the credit sales. This will be:

= 50% × $148200

= $74100

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3 years ago
Acme incorporated has a debt ratio of .42, noncurrent liabilities of $20,000 and total assets of $70,000. what is acme's level o
katovenus [111]

Hello!
The formula is
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Solve for x
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Good luck!

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snow_lady [41]

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Answer:

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