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17 July, 10:14

Hewitt Company expects cash sales for July of $11,000, and a 19% monthly increase during August and September. Credit sales of $14,000 in July should be followed by 28% increases during August and September. What are budgeted cash sales and budgeted credit sales for September respectively?

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  1. 17 July, 10:26
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    The correct answer for cash sales is $15,577.1 and credit sales is $22,937.6

    Explanation:

    According to the scenario, the given data are as follows:

    Cash sales for July = $11,000

    Increase rate = 19%

    So, Cash sales for August = $11,000 * 119% = $13,090

    Now, Cash sales for September = $13,090 * 119% = $15,577.1

    Credit sales for July = $14,000

    Increase rate = 28%

    So, Credit sales for August = $14,000 * 128% = $17,920

    Now, Credit sales for September = $17,920 * 128% = $22,937.6
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