Shadee Corp. expects to sell 570 sun visors in May and 310 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 60 and 40 units, respectively. Ending finished goods inventoryfor June will be 65 units. It expects the following unit sales for the third quarter. July: 575 August: 440 September: 420 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 39 percent is collected during the following month, and 9 percent is never collected. Calculate Shadee's total cash receipots for August and September?

Shadee Corp. expects to sell 570 sun visors in May and 310 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 60 and 40 units, respectively. Ending finished goods inventoryfor June will be 65 units. It expects the following unit sales for the third quarter. July: 575 August: 440 September: 420 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 39 percent is collected during the following month, and 9 percent is never collected. Calculate Shadee's total cash receipots for August and September?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter15: Managing Short-term Assets

Section: Chapter Questions

Problem 1PROB

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