This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Freemore Company has the following sales budget for the last six months of 2018: ... (Read 578 times)

Haya94

  • Hero Member
  • *****
  • Posts: 558
on: Mar 6, 2021
Freemore Company has the following sales budget for the last six months of 2018:

July$204,000October$180,000
August  170,000November   201,000
September 205,000December  180,000

Sales are immediately due, however the cash collection of sales, historically, has been as follows:
 55% of sales collected in the month of sale,
 35% of sales collected in the month following the sale,
 7% of sales collected in the second month following the sale, and
 3% of sales are uncollectible.

What is the ending balance of accounts receivable for the end of September, assuming uncollectible balances are written off at the end of the second month following the sale?
◦ $260,550
◦ $134,070
◦ $113,375
◦ $109,250
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Haya94 on Mar 6, 2021

emilymalinowski12

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


bastien Drevon

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Apr 14, 2021
Thank you
« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
Sample budget spreadsheet form for first year of business. Sample budget spreadsheet form for first year of business.
An infant begins to notice the external environment by the age of 4 to 8 months An infant begins to notice the external environment by the age of 4 to 8 months
An organizational specialist is hired as a consultant to a company planning to open a coffee ... An organizational specialist is hired as a consultant to a company planning to open a coffee ...
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
Video: Carbohydrate digestion - mouth and stomach & pancreas and small intestine

For a complete list of videos, visit our video library