A company's budgeted sales and cash collections for Quarter 1 are listed below:JanuaryFebruaryMarchCash Sales$93,000$100,000$85,000Collections on credit sales are as follows:Month of saleA month after saleSecond month after sale$1,278,000$335,000$428,000$126,500Credit SalesAnswer. (Click to select)www.m(Click to select)None of the answers are correct.?$260,000$195,000vTotal SalesThe accounts receivable balance on January 1 is $175,000, of which $75,000 represents uncollected December sales and $100,000represents uncollected November sales astur um alQ. If the total cash collected in March was $320,000, then total January sales must have been:$360,000$280,00050%40%10%

The cash budget is part of the master budget and it shows estimated cash inflow and cash outflow…

A company's budgeted sales and cash collections for Quarter 1 are listed below: January February March Cash Sales $93,000 $100,000 $85,000 Credit Sales Collections on credit sales are as follows: Month of sale A month after sale Second month after sale www. Answer (Click to select) $260,000 $195,000 Total Sales $360,000 $280,000 50% 40% 10% The accounts receivable balance on January 1 is $175,000, of which $75,000 represents uncollected December sales and $100,000 represents uncollected November sales astur stundarle je 25 Q. If the total cash collected in March was $320,000, then total January sales must have been:

A company's budgeted sales and cash collections for Quarter 1 are listed below: January February March Cash Sales $93,000 $100,000 $85,000 Credit Sales Collections on credit sales are as follows: Month of sale A month after sale Second month after sale www. Answer (Click to select) $260,000 $195,000 Total Sales $360,000 $280,000 50% 40% 10% The accounts receivable balance on January 1 is $175,000, of which $75,000 represents uncollected December sales and $100,000 represents uncollected November sales astur stundarle je 25 Q. If the total cash collected in March was $320,000, then total January sales must have been:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...

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