- In The First Six Months Of 2022 The The Shelf Company Expected Monthly Sales Of Cash Sales Credit Sales 70 000 75 0 1 (28.71 KiB) Viewed 10 times
- In The First Six Months Of 2022 The The Shelf Company Expected Monthly Sales Of Cash Sales Credit Sales 70 000 75 0 2 (11.43 KiB) Viewed 10 times
In the first six months of 2022, the The Shelf
Company expected monthly sales of: Cash Sales Credit Sales. $70,000 $75,000 $32,000 $27,000 January February March April May June $37,000 $100,000 Collections on sales: 50% in month of sale $170,000 $190,000 35% in month following sale 15% in second month following sale $150,000 $112,000 The
company's cost accountants have reviewed past sales and have determined this collection pattern: $220,000 $60,000 On January 1, 2022, the accounts receivable balance was $65,000, of which $52,000 was left from December sales tha $13,000 were from November sales that had not yet been collected. Budgeted cash collections during January by The Shelf
Company would be:
Multiple Choice $218,000 $204,400 $104,000 $281,000