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Author Question: Cooper Company, a retailer of camping supplies has budgeted activity for January using the following ... (Read 67 times)

zl00505

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on: Feb 5, 2023
Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data:

January cash sales$   50,000
January credit Sales380,000
Collections from December credit sales150,000
Selling and administrative costs (paid in month of purchase)50,000
Depreciation expense25,000
Merchandise Inventory, January 1200,000
Merchandise Inventory, January 31210,000

Cost of goods sold is 40% of Cooper's selling price
All purchases are paid in cash
Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible

Required:

What is Cooper's budgeted cash receipts for January?
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by zl00505 on Feb 5, 2023

ealonif

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Reply #1 on: Feb 5, 2023
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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zl00505

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

carlsona147

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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