Grace manufactures and sells miniature digital cameras for $260 each. 1,600 units were sold in May, and management forecasts 3% growth in unit sales each month. (a) Determine the number of units of camera sales for the month of June. (b) Determine the dollar amount of camera sales for the month of June.

Grace manufactures and sells miniature digital cameras for $260 each. 1,600 units were sold in May, and management forecasts 3% growth in unit sales each month. (a) Determine the number of units of camera sales for the month of June. (b) Determine the dollar amount of camera sales for the month of June.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EB: Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is...

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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?
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