Ratchet Manufacturing Anticipates Total Sales for August,September,and October of $200,000,$210,000,and
Ratchet Manufacturing anticipates total sales for August,September,and October of $200,000,$210,000,and $220,500 respectively.Cash sales are normally 25% of total sales and the remaining sales are on credit.All credit sales are collected in the first month after the sale.Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August.
A) $150,000.
B) $50,000.
C) $157,500.
D) $52,500.
E) $200,000.
Correct Answer:
Verified
Q135: Ratchet Manufacturing anticipates total sales for August,September,and
Q136: Ratchet Manufacturing's August sales budget calls for
Q137: Use the following information to determine the
Q138: Memphis Company anticipates total sales for April,May,and
Q139: Trago Company manufactures a single product and
Q142: Stanley Company is preparing a cash budget
Q143: Oxford,Inc. ,is preparing its master budget for
Q145: On its December 31,2014,balance sheet,Calgary Industries reports
Q183: Groundworks Company budgeted the following credit sales
Q188: A department store has budgeted cost of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents