The following are estimated sales for van burden company April $80,000 May. $90,

Question

The following are estimated sales for van burden company April $80,000 May. $90,000 June. $70,000
All sales are on credit. Records indicate 70% of the customers pay in the month of sale, 20% pay in the month following the sale and 10% pay in the second month of sale. The cash collected in June is
A. 75000 B. 81000 C. 70000 D. 49500 The following are estimated sales for van burden company April $80,000 May. $90,000 June. $70,000
All sales are on credit. Records indicate 70% of the customers pay in the month of sale, 20% pay in the month following the sale and 10% pay in the second month of sale. The cash collected in June is
A. 75000 B. 81000 C. 70000 D. 49500 April $80,000 May. $90,000 June. $70,000
All sales are on credit. Records indicate 70% of the customers pay in the month of sale, 20% pay in the month following the sale and 10% pay in the second month of sale. The cash collected in June is
A. 75000 B. 81000 C. 70000 D. 49500

Explanation / Answer

A. $75,000 Statement showing computations Particulars Amount Cash Collected for June Sales =70,000*70%             49,000.00 Cash Collected for May Sales =90,000*20%             18,000.00 Cash Collected for April Sales =80,000*10%               8,000.00 Total Cash collceted in June             75,000.00

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