answer in text form please (without image) Cash collections for Wax On Candles found that 54% of sales were collected in the month of the sale, 32% was collected the month after the sale, and 4% was collected the second month after the sale. Given the salesshown, how much cash will be collected in January? Round to the nearest penny, two decimal places.MonthSalesMonthSalesNovember$28,531MonthPurchasesNonna's Re-Appliance Store collects 59% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February? Round to thenearest penny, two decimal places.December$27,821December 2017$39,476Wax On Candles dataDecember$22,749Nonna's Re-Appliance Store dataDream Big Pillow Co. purchase dataJanuary 2018$41,448Calculate the payments made in February. Round to the nearest penny, two decimal places.January$25,418January$53,943Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017and the beginning of 2018:February$26,328February 2018$38,327February$72,915March 2018$32,209

Hi studentSince there are multiple questions asked, we will answer only first question.Cash budget…

Cash collections for Wax On Candles found that 54% of sales were collected in the month of the sale, 32% was collected the month after the sale, and 4% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January? Round to the nearest penny, two decimal places. Month Sales November $28,531 Wax On Candles data December $22,749 January $25,418 February $26,328

Cash collections for Wax On Candles found that 54% of sales were collected in the month of the sale, 32% was collected the month after the sale, and 4% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January? Round to the nearest penny, two decimal places. Month Sales November $28,531 Wax On Candles data December $22,749 January $25,418 February $26,328

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9EA: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,...

See similar textbooks

Similar questions

Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25% was collected the month after the sale, and 10% was collected the second month after the sale. Given the sales shown, how much cash will be collected in March and April?
My Aunts Closet Store collects 60% of its accounts receivable in the month of sale and 35% in the month after the sale. Given the following sales, how much cash will be collected in March?
Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is collected in the month of sale, 15% is collected the month after the sale, and 10% is collected the second month after the sale. How much cash will be collected in June if sales are estimated as $75,000 in April, $65,000 in May, and $90,000 in June?
Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January and February?
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 $75,000 in June, $65,000 in July, and $90,000 in August?
Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May, and June if 60% of sales are collected in the month of sale, 30% are collected the month after the sale, and 10% are collected the second month after the sale?
Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
Cash collections for Wax On Candles found that 58% of sales were collected in the month of the sale, 32% was collected the month after the sale, and 3% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January? Round to the nearest penny, two decimal places. Wax On Candles data Month November December January February Sales $27,066 $25,939 $22,301 $22,099
Cash collections for Wax On Candles found that 58% of sales were collected in the month of the sale, 33% was collected the month after the sale, and 4% was collected the second month after the sale. Given the sales shown, how much cash will be collected in January? Round to the nearest penny, two decimal places. Wax On Candles data December $23,765 Month Sales November $27,874 January $28,375 February $25,849
Nonna's Re-Appliance Store collects 54% of its accounts receivable in the month of sale and 36% in the month after the sale. Given the following sales, how much cash will be collected in February? Round to the nearest penny, two decimal places. Nonna's Re-Appliance Store data Month December January February Sales $21,512 $63,966 $72,252
Nonna's Re-Appliance Store collects 52% of its accounts receivable in the month of sale and 37% in the month after the sale. Given the following sales, how much cash will be collected in February? Round to the nearest penny, two decimal places. Month Sales Nonna's Re-Appliance Store data December $20,688 January $62,044 February $69,259
Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Nov. Dec. Jan. Feb. $25,000 $35,000 $20,000 $25,000 PLEASE NOTE: All dollar amounts will be rounded to whole dollars with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$O" - no quotation marks. Given the collection information and sales shown, complete the cash collections schedule below to determine how much cash will be collected in January and February (use the format shown in the textbook): Wax On Candles Cash Collections Schedule For January and February, 2019 January February November December January February Monthly Total