Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kingston budgets total sales for june and july of

Kingston budgets total sales for June and July of $420,000 and $438,000, respectively. Cash sales...

90.2K

Verified Solution

Question

Accounting

image
Kingston budgets total sales for June and July of $420,000 and $438,000, respectively. Cash sales are 65% of total sales. Of the credit sales, 20% are collected in the month of sale, 70% are collected during the first month after the sale, and the remaining 10% are collected in the second month after the sale. Determine the amount of accounts recelvable reported on the company's budgeted balance sheet as of July 31 . Hint: Determine the percent of June and July sales that are uncollected at July 31

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!
Become a Member

Other questions asked by students

Q

USING LETTER FROM A BIRMINGHAM JAIL- MLK 1. Was Dr. King effective in achieving his purpose...

Psychology
Q

Match the reaction with the correct EC Group HO 0 HO C05778 HO OH H3C...

Biology
Q

Question 43 Points 1 What did the Declaration of Indian Purpose stress Native Americans demanded...

Biology
Q

ARE VI Venn Diagram Activity Part A Use the word bank to complete the Venn...

Biology
Q

12 In the diagram shown a uniform electric field E has been applied along the...

Physics
Q

Complete the following table which shows the performance of two investments over a 5 year...

Basic Math
Q

Solve the inequality and write your answer in interval notation 20x4 1 11x

Statistics
Q

The Closed Fund is a closed-end investment company with a portfolio currently worth $290 million....

Accounting
Q

Exercise 4-5 (Algo) Assigning Overhead to Products in ABC [LO4-2, LO4-3] Sultan Company uses an...

Accounting
Q

Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely...

Accounting
Q

Please do in EXCEL, lowest digit is 1 and highest is 8. I only need...

Accounting
Q

In what time will the interest on $960 amount to 61.20 at 8 (1)/(2 )%...

Finance