Sacrolotion Co.s sales are 10% cash and 90% on credit. Credit sales are collected as...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Sacrolotion Co.s sales are 10% cash and 90% on credit. Credit sales are collected as follows: 30% in the month of sale, 50% in the next month, and 20% in the following month. On December 31, the accounts receivable balance includes $10,500 from November sales and $42,000 from December sales. If total sales for January are budgeted to be $50,000, what are the expected cash receipts for January?
A. $43,100
B. $51,500
C. $59,000
D. $60,500
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: Flex AI - Your personal assistant for all your inquiries!
