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Debora [2.8K]
2 years ago
9

The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and

the remainder in the second month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on May 31 would be:
Business
1 answer:
scZoUnD [109]2 years ago
3 0

Answer:

$242,000

Explanation:

Calculation for what The budgeted accounts receivable balance on May 31 would be

Accounts Receivable

Debit side

April 320,000

May 300,000

Total $620,000

Credit side

April 96,000 (30% x 320,000)

April 192,000 (60% x 320,000)

May 90,000 (30% x 300,000)

Total=$378,000

The budgeted accounts receivable balance=$620,000-$378,000

The budgeted accounts receivable balance=$242,000

Therefore The budgeted accounts receivable balance on May 31 would be $242,000

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Alright, well look like this:

Public goods are goods that are open to anyone. They can’t turn down customers, and they can’t turn down even people who don’t pay.

Excludable goods means the people CAN turn away those who don’t pay. So, this is wrong.

Goods for a profit means that no matter what, they make money. Meaning those who can’t pay can still be turned away.

Privately owned goods can be turned away to and from anyone. This is also wrong.

Nonexcludable goods means that ANYONE can use this good or service, they aren’t for profit, they are non-rivalrous, etc. This is your answer.

<span>~Hope this helps!</span>

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Global market has decided to increase its market share by hiring a marketing rep to visit businesses in the area and invite thei
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<h3>What is communication strategy?</h3>

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2 years ago
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end,
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Answer: $186,000

Explanation:

January is the 2nd month from November which means that all of November's $31,000 will be collected in January.

January is the first month after December so 30% of December sales should be collected in January. 50% has already been collected in December and this left $50,000.

Total credit sales in December must have been:

= 50,000 / 50%

= $100,000

Amount to be collected in January for December:

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= $30,000

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