Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
misserz0210 misserz0210
wrote...
Go to Answer
Posts: 150
Rep: 0 0
A year ago

The LaPann Corporation has obtained the following sales forecast data:

JulyAugustSeptemberOctober
Cash sales$ 80,000$ 70,000$ 50,000$ 60,000
Credit sales$ 240,000$ 220,000$ 180,000$ 200,000

The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.

The budgeted accounts receivable balance on September 30 would be:



▸ $126,000

▸ $148,000

▸ $166,000

▸ $190,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
Read 133 times
1 Reply
Replies
Answer verified by a subject expert
ssong07ssong07
wrote...
#1
Posts: 123
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

misserz0210 Author
wrote...

A year ago
Thanks
joyceess
wrote...

Yesterday
Just got PERFECT on my quiz
linlinlin
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  829 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1599
  
 93
  
 269
Your Opinion
Who will win the 2024 president election?
Votes: 8
Closes: November 4
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?