noribdoglover4443 noribdoglover4443

Today at 6:57 AM
Business

Answered

Lakewood Jet Skis has budgeted sales for June and July at $ 420 comma 000 and $ 510 comma 000 , respectively. Sales are 75% credit, of which 30% is collected in the month of the sale and 70% is collected in the following month. What is the accounts receivable balance on July 31?
A. $189,000B. $288,000C. $216,000D. $360,000

Answer :

stokholm stokholm

Today at 7:01 AM

Answer:

All options are incorrect for given values

Correct answer is $267,750

Explanation:

Provided Budgeted sales for the month of

Month Sales Credit 75% Collected in month 30% Bal 70%

June = $420,000 $315,000 $94,500 $220,500

July = $510,000 $382,500 $114,750 $267,750

Accounts receivable balance on 31 July will be only 70% of credit Sales of July.

Thus Amount of Accounts Receivables Balance on July 31 = $267,750

Answer Link

Other Questions

Measures such as steering-column locks, vandal-resistant construction, enhanced street lighting, and improved library checkout systems that demonstrably decreas

An allele that is relatively new to a population and has been subject to positive natural selection is characterized by having .

is a process that helps organizations identify, select, organize, disseminate, transfer, and apply expertise that is part of the organization’s memory and typi

A family includes a mother, stepfather, two teenage biological daughters of the mother, and a biological daughter of the father. Of what type of family is this

Examine the exhibit above. Host B is sending an email intended for the user on Host A to the email server. What protocol is being used to send the message throu

Define the following :puberty

what is the extent of formal control

*what is air?????????

addition corresponds to moving to the number line

The government has notified a High-Level Committee headed by for implementation of Clause six of the Assam Accord on 6 January 2019. Syed Fakhr Imam M.P. Bezbar

A firm sets a target capital structure to use when raising new funds in an effort to: a. maximize the dividend per share it pays commons stockholders. b. minimi

A ball rolling across a field has an acceleration of -0.5 m/s 2. It rolls 12.5 m and then comes to a stop after 8 sec. What was the ball's initial velocity?

Which benefits of a connected world makes all applications, equipment (such as a high-volume printer), and data available to anyone on the network, without rega

Assume that during meiosis I, none of the CC chromosomes disjoin at metaphase, but they separate into dyads (instead of monads) during meiosis II. Each resultan

An interest rate is quoted as 5% per annum with semiannual compounding. What is the equivalent rate with (a) annual compounding, (b) monthly compounding, and (c

The deficiency of the enzyme glucose-6-phosphate dehydrogenase (G6PD) is inherited as a recessive gene on the X chromosome in humans. A phenotypically normal wo

Gravel is being unloaded from a truck and falls into a pile shaped like a cone at a rate of 14 ft3/min. The radius of the cone base is three times the height of

On February 1, a customer's account balance of $3,800 was deemed to be uncollectible. What entry should be recorded on February 1 to record the write-off assumi

With respect to the key dimensions of service quality, promptly crediting returned merchandise and rapidly replacing defective products is an example of .

Find the product of each number and . 122.1 11.8 1350.1 1.704 What happens to the decimal point of the original number when you multiply it by ? Why do you thin