The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the five months ending December 2021 August September October November December R310 000 R330 000 R325 000 R340 000 R410 000 Additional information: Cash sales comprise 40% of total sales. These customers are entitles to a 4% discount. Credit sales are collected as follows: 40% in the month of sale - these customers get a 2% discount 55% in the month after the sale 5% is written off as bad debts Cash receipts for cash sales made for the period August to December will total: O A. R686 000 B. R1 715 000 C. R658 560 D. R1 646 400

Yung Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $892,000 in October, $954,000 in November, $1,040,000 in December, and $928,000 in January. Yung's sales are 25% cash and 75% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale 65% in the month after the sale 8% two months after the sale 7% are never collected Requirements 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. 2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Yung Reeds Budgeted Cash Collections from Customers For the Months of December and January December Cash sales Collection of credit sales: 20% of current month credit sales 65% of prior month credit sales 8% of credit sales two months ago Total collection of credit sales Total cash collections $ $ 260,000 $ 156,000 465,075 53,520 934,595 $ January…

Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 20% in the month following sale, and 17% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month Total sales 1 2 $70,000 $90,000 $60,000 $40,000 Total cash receipts in Month 4 will be:

Vikrambhai

Chatsworth Company Month Expected Sales July $40,000 August $50.000 September $30,000

chedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $115,000 November 144,000 December 210,000 The Accounts Receivable balance on September 30 was $77,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31   October November December Receipts from cash sales:       Cash sales $ $ $ September sales on account:       Collected in October       October sales on account:…

Neon Inc.’s forecast sales for July is $72,000. It has $15,000 in accounts receivable at the end of June. 30% of its total sales are expected to be cash sales. Of the remaining 70%, 80% are expected to be collected in the month of the sale and the remaining 20% in the month following the sale. Determine the amount of accounts receivable at the end of July. Group of answer choices $79,200 $61,920 $10,080 $40,320

Office World Inc. has “cash and carry” customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 40% pay their accounts in the month of sale, while the remaining 60% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $700,000 November 650,000 December 500,000 The Accounts Receivable balance on September 30 was $290,000. Prepare a schedule of cash collections from sales for October, November, and December. Enter all amounts as positive numbers. Office World Inc.Schedule of Collections from SalesFor the Three Months Ending December 31   October November December Receipts from cash sales:       Cash sales $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 September sales on account:       Collected in October fill in the blank 4     October sales on…

Mercurius forecasts the following sales figures for the next four months. June July August September 420,000 350,000 380,000 440,000 Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale. What is Mercurius' estimated accounts receivable balance on 30 September?(Answer without comma separators, e.g., 1000 instead of 1,000)

Lo’s Clothiers has forecast credit sales for the fourth quarter of the year.   September $70,00 Forth Quarter   October $60,000 November 55,000 December 80,000   Experience has shown that 30 percent of sales are collected in the month of sale, 60 percent are collected in the following month, and 10 percent are never collected. Prepare a schedule of cash receipts for J.Lo’s Clothiers covering the fourth quarter (October through December)