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Dennis_Churaev [7]
2 years ago
5

All of Ameliorate Inc.'s sales are on account. 60% of the credit sales are collected in the month of sale, 30% in the month foll

owing sale, and 10% in the second month following sale. The following are budgeted sales data for the company: January February March April Total sales $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected to be:
Business
1 answer:
Sidana [21]2 years ago
6 0

Answer:

Total cash collection= $530,000

Explanation:

Giving the following information:

<u>Sales:</u>

February $500,000

March $400,000

April $600,000

60% of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following the sale.

<u>Cash collection April:</u>

Cash collection credit sales from April= (600,000*0.6)= 360,000

Cash collection credit sales from March= (400,000*0.3)= 120,000

Cash collection credit sales from February= (500,000*0.1)= 50,000

Total cash collection= $530,000

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Answer:

Therefore I can borrow $19646.12 from E-Loan.

The interest I will pay for the loan is $1,857.88.

Explanation:

The formula of present value is

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Therefore

PV=448(\frac{1-(1+0.00375)^{-48}}{0.00375})

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Therefore I can borrow $19646.12 from E-Loan.

The interest = Paid amount - Loan amount

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The interest I will pay for the loan is $1,857.88.

6 0
3 years ago
An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 50 h
Anettt [7]

Answer:

a. Gross pay = $1,320

b. Net pay = $917

Explanation:

a. Determine the gross pay for the week. $ If applicable, round your final answer to two decimal places.

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Net pay = $1,320 - ($1,320 * 6.0%) - ($1,320 * 1.5%) - $304 = $917.

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3 years ago
What is an economic and non economic activity explain me in short and give one example each​
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Answer:Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.

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3 years ago
The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor,
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Answer:

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