Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales for June.
A) $561,500.
B) $652,500.
C) $817,500.
D) $592,500.
E) $890,000.
Correct Answer:
Verified
Q114: Kent Company anticipates total sales for April,
Q115: Kent Company anticipates total sales for April,
Q116: Grafton sells a product for $700. Unit
Q117: Match the definitions 1 through 9 with
Q118: Grafton is preparing a cash budget for
Q120: Kyoto, Inc. predicts the following sales in
Q124: Pantheon Company has prepared the following forecasts
Q167: What is a sales budget? How is
Q184: Why is the sales budget usually prepared
Q197: What is a cash budget? How can
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