The following credit sales are budgeted by Grumpy Electronics:
January $124,000
February $12...
Business, 05.08.2020 19:01 keasiabrown25
The following credit sales are budgeted by Grumpy Electronics:
January $124,000
February $120,000
March 135,000
April 140,000
May 142,000
The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 18% in the second month following cash reciepts for april the sale. Two percent are uncollectible.
a. How much does the company anticipate for cash receipts for March?
b. What are the new uncollectible accounts for the month of April?
c. What is the accounts receivable balance at the end of March?
Answers: 3
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