SalaRita's sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in the month following the sale, and 15% is collected two months after. Budgeted sales data is as follows: $$\begin{array} { l r }
\text { June } & \$ 200,000 \
\text { July } & 120,000 \
\text { August } & 150,000
\end{array}$$ How much is total 'Accounts Receivable' at the end of August?

Question

SalaRita's sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in the month following the sale, and 15% is collected two months after. Budgeted sales data is as follows: $$\begin{array} { l r } 
\text { June } & \$ 200,000 \
\text { July } & 120,000 \
\text { August } & 150,000
\end{array}$$ How much is total 'Accounts Receivable' at the end of August?

Quizplus · Accepted Answer

The Answer of SalaRita's sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in the month following the sale, and 15% is collected two months after. Budgeted sales data is as follows: $$\begin{array} { l r } 
\text { June } & \$ 200,000 \
\text { July } & 120,000 \
\text { August } & 150,000
\end{array}$$ How much is total 'Accounts Receivable' at the end of August?

SalaRita's Sales Are 32% Cash and 68% Credit June $200,000 July 120,000 August 150,000\begin{array} { l r } \text { June } & \$ 200,000 \\\text { July } & 120,000 \\\text { August } & 150,000\end{array} June July August ​$200,000120,000150,000​

SalaRita's Sales Are 32% Cash and 68% Credit $\begin{array} { l r } \text { June } & \$ 200,000 \\\text { July } & 120,000 \\\text { August } & 150,000\end{array}$