Wallace Inc. collects 90% of its sales on account in the month of the sale and 10% in the month following the sale. If sales on account are budgeted to be $276,000 for September and $215,000 for October, what are the budgeted cash receipts from sales on account for October?

Schuepfer Incorporated bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 1,900 units are planned to be sold in March. The variable selling and administrative expense is $4.80 per unit. The budgeted fixed selling and administrative expense is $35,690 per month, which includes depreciation of $3,400 per month. The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget should be: Multiple Choice $44,810 $41,410 $32,290 $9,120

The Panda Company has budgeted its activity for October according to the following information:   Sales are budgeted at $392,000 and all sales are for cash.   All purchases of merchandise inventory are for cash. Merchandise inventory was $150,000 on September 30 and the planned merchandise inventory on October 31 is $140,000. All merchandise is sold at 40% above cost.   The selling and administrative expenses are budgeted at $92,000 for the month. All of these expenses are paid for in cash except for depreciation of $12,000.   What is the budgeted net income for October?

Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $400,000, of which $240,000 pertain to sales that were made during June. Budgeted sales for July are $1,250,000. Ross collects 70% of sales in the month of sale; 20% in the following month; and the final 10% in the second month after the sale. What is the budgeted balance of Ross's accounts receivable as of July 31?

Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $239,000, $319,000, and $424,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be: Ca. $338,520 Ob. $282,100 Oc. $237,440 Od. $192,780

A manufacturing company's sales budget indicates the following sales: January: $30,000; February: $20,000; March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month following the sale. The total cash receipts collected during March will be $

Evans Company's cash sales are normally 60% of total sales. Anticipated sales for April and May are $588,000 and $550,000 respectively of the credit sales. 10% are collected in the same month as the sale, 70% are collected during the first month after the sale, and the remaining 20% are collected in the second month. Determine the accounts receivable balance that should be reported on Evan's budgeted balance sheet as of May 31.

Big Wheel, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. Sales on account are budgeted to be $20,800 for March and $65,700 for April. What are the budgeted cash receipts from sales on account for April?

Kronos Ltd is preparing a cash budget for May and June of 2021.   Past records reveal that 15% of all credit sales are collected during the month of sale, 45% in the month following the sale, 30% in the second month following the sale and 10% in the third month following the sale.   The company pays for 55% of purchases in the month after purchase, and the balance is paid in the month following that.   Selling expenses amount to $2 400 per month plus 10% of monthly sales.   Administrative expenses are estimated to be $9 800 per month, which includes $2 600 of depreciation expense.   Finance expenses are $1600 per month.   All selling and distribution, administrative, and finance and other expenses (except depreciation) are paid for when incurred.   It is planned to purchase equipment during May 2019 at a cost of $7 500.   A $5 800 loan payable will be repaid in full including interest charges during June 2019. The interest due at maturity date will be $750.     The company’s expected…

Daybook Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $105,000 for September and $116,000 for October, what are the budgeted cash receipts from sales on account for October?$fill in the blank 1