AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If 20 % of sales are for cash, 40 % are credit sales paid in the month following the sale, and 40 % are credit sales paid 2 months following the sale, what are the cash receipts from sales in March? *

Valley's managers have made the following additional assumptions and estimates: Estimated sales for July and August are $345,000 and $315,000 respectively Each month's sales are 20% cash sales and 80% credit sales.  Each month's credit sales are collected 30% in the month of the sale and 70% in the month following the sale.  All of the accounts receivable at June 30 will be collected in July Each month's ending inventory must equal 20% of the cost of the next month's sales.  The Cost of Goods Sold is 60% of sales.  The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase.  All of the accounts payable at June 30 will be paid in July Monthly selling and administrative expenses are always $75,000.  Each month $10,000 of this total amount is depreciation expense and the remaining $65,000 relates to expenses that are paid in the month they are incurred The company does not plan to buy or…

Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $74,000 in June, $68,000 in July, and $88,000 in August? Cash collected $fill in the blank 1

Valley's managers have made the following additional assumptions and estimates: Estimated sales for July and August are $345,000 and $315,000 respectively Each month's sales are 20% cash sales and 80% credit sales.  Each month's credit sales are collected 30% in the month of the sale and 70% in the month following the sale.  All of the accounts receivable at June 30 will be collected in July Each month's ending inventory must equal 20% of the cost of the next month's sales.  The Cost of Goods Sold is 60% of sales.  The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase.  All of the accounts payable at June 30 will be paid in July Monthly selling and administrative expenses are always $75,000.  Each month $10,000 of this total amount is depreciation expense and the remaining $65,000 relates to expenses that are paid in the month they are incurred The company does not plan to buy or sell any plant and…