Solution-How much cash will Avery collect in December

How much cash will Avery collect in December

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Reference no: EM133109419

Question - Avery Manufacturing has the following sales budgets for the fourth quarter.

	Cash sales	Credit sales
October	$580,400	$232,900
November	624,800	344,000
December	783,610	398,700

The accounting manager has analyzed cash collections and determined that credit sales are collected 60% in the month of sale, 25% in the month following the sale, and 15% in the 2nd month following sale.

Required - How much cash will Avery collect in December?

Reference no: EM133109419

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How much cash will Avery collect in December

Reference no: EM133109419

Reference no: EM133109419

Questions Cloud

Reviews

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Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

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