Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tom has the following total sales data: jan $150,

TOM HAS THE FOLLOWING TOTAL SALES DATA: JAN $150,000 FEB $160,000 MARCH $154,000...

60.1K

Verified Solution

Question

Accounting

TOM HAS THE FOLLOWING TOTAL SALES DATA:

JAN $150,000

FEB $160,000

MARCH $154,000

CREDIT SALES REPRESENT 75 PERCENT OF TOTAL SALES. CREDIT SALES ARE COLLECTED 15 PERCENT IN THE MONTH OF SALE, 65 PERCENT IN THE FIRST MONTH AFTER SALE AND 18 PERCENT IN THE SECOND MONTH AFTER SALE. WHAT ARE TOTAL CASH COLLECTIONS DURING MARCH FROM SALES?

MARCH CASH COLLECTIONS

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

What is an isocratic separation? What is a gradient separation? Describe a gradient elution in normal phase...

Biology
Q

Describe the impact that the Protestant Reformation had on the monopoly of power and influence of...

Psychology
Q

Pick one adult in your life you regularly interact with. Using your knowledge of the Learning...

Psychology
Q

Two flasks of equal volume connected by a narrow tube of negligible volume contain 2...

Physics
Q

The function r(t) = 1,000 ?cos(?t/2) gives the rate of change in the deer population...

Basic Math
Q

A polling organization contacts 1446 undergraduates who attend a college and live outside the United...

Statistics
Q

de NASA s Goddard Institute for Space Studies GISS allows you to download historical temperature...

Statistics
Q

Let dg/dy=3e^yFind the particular solution to the above differential equation that satisfies the following initial...

Calculus
Q

1. What are the distinguishing characteristics between a public charity and a private foundation? 2....

Accounting
Q

Jeremy and Alyssa Johnson have been married for five years and do not have any...

Accounting
Q

. The following information pertains to activities for the construction of an office building (the...

Accounting
Q

When a sale is made to a customer on credit: there is no entry made...

Accounting