Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of sales. Using the following information, determine total cash collections for the quarter. January S65,000 $92,000 Total budgeted sales $157,000 February $76,000 S102,000 $178,000 March |Cash sales S73,000 Sales on account S138,600 $211,600 a. $698,000 b. $702,000 c. $211,600 d. $175,000

Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of sales. Using the following information, determine total cash collections for the quarter. January S65,000 $92,000 Total budgeted sales $157,000 February $76,000 S102,000 $178,000 March |Cash sales S73,000 Sales on account S138,600 $211,600 a. $698,000 b. $702,000 c. $211,600 d. $175,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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