Big City Toy Company has the following expected sales in dollars from its Sales Budget...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Big City Toy Company has the following expected sales in dollars from its Sales Budget for the year ended December 31, 20X1: Q1 - $106,000 Q2- $118,600 Q3- $61,000 Q4- $301,700 Expected sales are 25% cash, 75% credit. For credit sales, 40% are collected in the quarter of the sale, 55% are collected in the following quarter, and 5% are never collected. The total amount of cash expected to be collected in Q4 is ?
Answer
a. $191,098
b. $121,175
c. $75,425
d. $93,026
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
