Silver company makes a product that is very popular as a

Assignment Help Accounting Basics

Reference no: EM13606501

Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:

April May June Total
Budgeted sales (all on account) $ 554,000 $ 840,000 $482,000 $ 1,876,000

From past experience, the company has learned that 25% of a month's sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $436,000, and March sales totaled $526,000.prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

Reference no: EM13606501

Questions Cloud

One hundred items are simultaneously put on a life test : one hundred items are simultaneously put on a life test. suppose the life-times of the individual items are independent

On april 1 10000 shares of 5 par common stock were issued : on april 1 10000 shares of 5 par common stock were issued at 22 and on april 7 5000 shares of 50 par preferred stock

A plate capacitor has a spacing between its plates of 5mm : a plate capacitor has a spacing between its plates of 5mm and a potential difference of 3.00e3 volts across its plate.

Using the company nikon answer the following questions a in : using the company nikon answer the following questionsa. in which geographical regions does the company operate?b. what

Silver company makes a product that is very popular as a : silver company makes a product that is very popular as a mothers day gift. thus peak sales occur in may of each year as

A fair ten-sided die is rolled once event a is the event : a fair ten-sided die is rolled once. event a is the event that a number less than 7 is rolled. event b is the event

What happens to the solutions of the time-independent : what happens to the solutions of the time-independent schrodinger equation if the potential energy v x is changed by an

Find the dimensions of the building to minimize the cost of : a department store plans to construct a one-story building with a rectangular planform. the building is required to

Customers at a gas station pay with a credit card a debit : customers at a gas station pay with a credit card a debit card b or cash c. assume that successive customers make

User Account

All Pages