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Author Question: Freemore Company has the following sales budget for the last six months of 2018: ... (Read 217 times)

ENagel

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on: Mar 6, 2021
Freemore Company has the following sales budget for the last six months of 2018:

July$206,000October$181,000
August  168,000November   203,000
September 209,000December  185,000

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.

Cash collections for September are ________.

◦ $126,710
◦ $173,750
◦ $188,170
◦ $199,930
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by ENagel on Mar 6, 2021

javimendoza7

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Reply #1 on: Mar 6, 2021
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ENagel

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Reply 2 on: Mar 6, 2021
Excellent

kusterl

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

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