Cash collections for the third quarter

Assignment Help Accounting Basics

Reference no: EM13132462

Flint Company estimates its sales at 120,000 units in the first quarter and that sales will increase by 12,000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale.

Cash collections for the third quarter are budgeted at:

a) $3,546,000.

b) $4,104,000.

c) $2,034,000.

d) $2,952,000.

Reference no: EM13132462

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