Kam Department Store reported the following information for 2022: $\begin{array} { l }
& \text {October }& \text { November}& \text { DECEMBER}\
\text {Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\
\end{array}$
All sales are on credit.
• Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

Question

Kam Department Store reported the following information for 2022: $\begin{array} { l  } 
& \text {October }& \text { November}& \text { DECEMBER}\
 \text {Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\
\end{array}$
 All sales are on credit. 
•	Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

Quizplus · Accepted Answer

The Answer of Kam Department Store reported the following information for 2022: $\begin{array} { l  } 
& \text {October }& \text { November}& \text { DECEMBER}\
 \text {Budgeted sales }&\$1,240,000&\$1,160,000&\$1,440,000\
\end{array}$
 All sales are on credit. 
•	Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much cash will Kam receive in November?

Kam Department Store Reported the Following Information for 2022 All Sales Are on Credit