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1 February, 16:40

Junior Snacks reports the following information from its sales budget: Expected Sales:October$136,000 November 144,000 December 180,000 All sales are on credit and are expected to be collected 35% in the month of sale and 65% in the month following sale. The total amount of cash expected to be received from customers in November is:

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  1. 1 February, 16:47
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    Total cash = $138,800

    Explanation:

    Giving the following information:

    Expected Sales:

    October $136,000

    November $144,000

    December $180,000

    All sales are on credit and are expected to be collected 35% in the month of sale and 65% in the month following sale.

    Cash collection for November:

    November sales = 144,000*0.35 = $50,400

    From October = 136,000*0.65 = $88,400

    Total cash = $138,800
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