Shadee Corporation expects to sell 550 sun shades in May and 420 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: July August September 57 480 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September

Shadee Corporation expects to sell 550 sun shades in May and 420 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: July August September 57 480 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10PA: Sports Socks has a policy of always paying within the discount period and each of its suppliers...

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