EAlgo Calculating Cash Receipts LO
Shadee Corporation expects to sell sun shades in May and in June. Each shades sells for $ Shadee's beginning and ending finished goods inventories for May are and shades, respectively. Ending finished goods inventory for June will be shades.
It expects the following unit sales for the third quarter:
tableJulyAugustSeptember
Sixty percent of Shadee's sales are cash. Of the credit sales, percent is collected in the month of the sale, percent is collected during the following month, and 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.
tableAugust,SeptemberTotal Cash Receipts,,
