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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 16
A company's sales for the coming months are as follows:
About 20% of sales are cash sales, and the remainder are credit sales. The company finds that typically 10% of a month's credit sales are paid in the month of sale, 70% are paid the next month, and 15% are paid in the second month after sale. Expected cash receipts in July are budgeted at what amount?
A) $114,520
B) $143,150
C) $145,720
D) $156,000
About 20% of sales are cash sales, and the remainder are credit sales. The company finds that typically 10% of a month's credit sales are paid in the month of sale, 70% are paid the next month, and 15% are paid in the second month after sale. Expected cash receipts in July are budgeted at what amount?
A) $114,520
B) $143,150
C) $145,720
D) $156,000
Explanation
Verified
Verified
Credit sale is
Out of which 10% is r...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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