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
hjlf
2 years ago
8

The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end,

the following information has been assembled: Collections on sales: 50% in month of sale 30% in month following sale 20% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $50,000 represents uncollected December sales and $31,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be:
Business
1 answer:
nydimaria [60]2 years ago
4 0

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:

= 100,000 * 30%

= $30,000

Amount to be collected from January credit sales:

= 50% * 150,000

= $75,000

January cash sales = $50,000

Total cash in January :

= 31,000 + 30,000 + 75,000 + 50,000

= $186,000

You might be interested in
What are the advantages of electronic communication
fiasKO [112]

Answer:

IT HEPLS TO SOLVE ECONOMIC PROBLEMS ABOUT TRADITIONAL SUPERSTATION

5 0
3 years ago
Read 2 more answers
You and four other team members attend a seminar on conflict. The seminar costs $150 per person. You will need to drive two cars
Sveta_85 [38]

Answer: $825

Explanation:

Total seminar cost for the team;

= 150 * 5 people

= $750

Two cars need to be driven the 100-mile round trip at 37.5 cents per mile.

= 2 * 100 * 37.5

= 7,500 cents

= $75

Cost of Seminar = 750 + 75 = $825

5 0
3 years ago
Select the correct answer.
scZoUnD [109]
B i hope it work tho
5 0
3 years ago
A local family-run Greek restaurant has been a part of the community for twenty years. Their mission is to provide local, fresh,
Furkat [3]

The correct answer to this open question is the following.

Although there are not options provided, we can say that some additions that could be implemented which are aligned with this company’s values are the inclusion on the menu of organic food, vegan food, and kosher products so all kinds of customers can find a good option in the restaurant.

Another important thing is the way to market and communicate their innovations to consumers. In college, the son should have learned that the way a restaurant markets its products and services is as important as the kinds of food it offers.

8 0
3 years ago
Dialogue with a goal of helping another be more effective and achieve his or her full potential on the job is referred to as
Aloiza [94]

Answer:

Dialogue with a goal of helping another be more effective and achieve his or her full potential on the job is referred to as coaching.

3 0
3 years ago
Other questions:
  • For the past five years, the RS Company has produced and sold electronic magnets to chemistry labs throughout the United States.
    11·1 answer
  • Mariposa Corporation is considering purchasing equipment for $200,000. Mariposa expects this equipment will last for 20 years an
    12·1 answer
  • Christian wants to start a business. He is attracted to the idea of being his own boss, Christian wants to start a new business.
    7·1 answer
  • A company has $100,000 in "outstanding accounts receivable" and it uses the allowance method to account for uncollectible accoun
    9·1 answer
  • Giving up one alternative for another is called
    10·1 answer
  • " Like any effective salesperson, Frazer walks into a customer's office, shakes hands, looks the customer in the eye, and smiles
    10·1 answer
  • This individual worked to determine a "fair day’s work," or what an average worker could produce at a reasonable pace. This indi
    8·2 answers
  • The factor-price equalization theory and transportation costs Which of the following statements about the factor-price equalizat
    15·1 answer
  • Equity method journal entries (price greater than book value) An investor purchases a 25% interest in an investee company, and t
    8·1 answer
  • You are a business information expert and have been hired by the independent bookstore, Alexandria, to increase profits and effi
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!