The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 30% of total sales, 55% are credit sales collected in the month following the sale, and the remaining 15% are credit sales that are written off as uncollectible. Prepare a schedule of cash receipts for September.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The Guitar Shoppe reports the following sales forecast: August, $150,000; September, $170,000. Cash sales are normally 30% of total sales, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which is not a court of "first instance" (a court that looks at a case for the first time) ? A. a municipal court B. a small claims court C. juvenile court D. appellate court
Answers (1)
Oh, no! You contract Mononucleosis (Mono) and consequently miss two weeks of work without pay. You do not have any type of disability insurance. Due to work missed, you lose $1500 in take-home pay for the current month.
Answers (1)
EcoFabrics has budgeted overhead costs of $1,077,300. It has allocated overhead on a plantwide basis to its two products (wool and cotton) using direct labor hours which are estimated to be 513,000 for the current year.
Answers (1)
During the "Great Recession" of 2008-2009, the federal government passed several "stimulus packages" to increase the amount of federal dollars flowing into the economy. What is the main objection to this and other government stimulus efforts?
Answers (1)
Playwrights that have been quoted as serving as the initial director of their work are
Answers (1)
New Questions in Business
Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on
Answers (1)
Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
Answers (1)
Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.
Answers (1)
Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007. What is the annual dividend on the preferred stock? a. $60 per shareb. $30,000 in totalc.
Answers (1)
a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.
Answers (1)