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 705 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?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Deciduous and permanent teeth. (A) The deciduous teeth, with the age of eruption given in months; (B Deciduous and permanent teeth. (A) The deciduous teeth, with the age of eruption given in months; (B
Earth’s Heat Budget Earth’s Heat Budget
Jet streams and Earth’s heat budget Jet streams and Earth’s heat budget
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 debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Neurosynapse Animation

For a complete list of videos, visit our video library