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Author Question: The following information pertains to Amigo Corporation: ... (Read 41 times)

tingc95

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on: Mar 6, 2021
The following information pertains to Amigo Corporation: 

MonthSalesPurchases
July$30,000$10,000
August34,00012,000
September38,00014,000
October42,00016,000
November48,00018,000
December60,00020,000

∙Cash is collected from customers in the following manner:
Month of sale (2% cash discount)30%
Month following sale50%
Two months following sale15%
Amount uncollectible5%
∙40% of purchases are paid for in cash in the month of purchase, and the balance is paid the 
following month. 

Required: 
a.Prepare a summary of cash collections for the 4th quarter.
b.Prepare a summary of cash disbursements for the 4th quarter. 
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by tingc95 on Mar 6, 2021

LVPMS

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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.
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tingc95

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

blakcmamba

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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