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3 years ago

The LaGrange Corporation had the following budgeted sales for the first half of the current year:

Business

1 answer:

Oxana [17]3 years ago

3 0

Answer:

$168,250

Explanation:

Total Cash Collection would include cash collected from both Cash Sales and Credit Sales.

Summary for Calculation of January Cash Collected

Cash Sales $60,000

Credit Sales :

For January Sales ($160,000 × 45%) $72,000

For December Sales ($55,000 × 55%) $30,250

For November Sales ($30,000 × 20%) $6,000

Total Collection $168,250

Conclusion :

The total cash collected during January by LaGrange Corporation would be $168,250

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