Solution-Calculate the expected cash receipts for December

Calculate the expected cash receipts for December

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Reference no: EM132841369

Problem - Semco supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:

Sales are budgeted at $330,000 for November, $300,000 for December and $320,000 for January.

10% of the month's sales are cash sales. The remainder are credit sales.

60% of credit sales are expected to be received in the month of sales, 39% are expected to be collected in the month following sales. 1% of credit sales are expected to remain uncollectible and will be written off.

Calculate the expected cash receipts for December.

Reference no: EM132841369

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Calculate the expected cash receipts for December

Reference no: EM132841369

Reference no: EM132841369

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