A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All

Fantastic news! We've Found the answer you've been seeking!

Question:

A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All sales are on credit. 30% is collected in the month of the sale, and the remainder in the following month.

What will be the balance in accounts receivable at the end of June?

Related Book For answer-question

Managerial accounting

ISBN: 978-0471467854

1st edition

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

See More Books

Posted Date: Nov 22, 2023 05:04 AM

See More Questions

Multiple Choice Questions 1. Which is the main body responsible for overseeing the regulation of companies in Australia? A. The Institute of Chartered Accountants in Australia B. The Australian...
Evaluations of the firms liquidity , activity , debt , profitability according to this income statement and balance sheets. And is this firm profitable or not ? Statement of Financial Position...
What is the function of anti-pumping in circuit breaker?
George and Weezy received $29,100 of Social Security benefits this year ($11,000 for George: $18,100 for Weezy). They also received $4,800 of Interest from jointly owned City of Ranburne Bonds and...
Which personality trait or traits in a leader have you found to be the most effective in dealing with you? Why?
The Graphic Palette is a firm in Charleston, South Carolina, that does graphic artwork and produces color and black-and-white posters, lithographs, and banners. The firm's owners, Kathleen and...
How to structure a factual investigation
1. Apply the steps in Exhibit 4.3, Ethical Conflicts and Compliance with the Rules of Conduct, and analyze whether the relationships described in this case create a conflict of interests and, if so,...
ASSIGNMENT EQUITY ANALYSIS Due in groups of three or less on31st march 2020 at beginning of class. QUESTION ONE Hansen has a beta of 0.83 and the current dividend is Ksh 13.80. The risk-free rate of...
Ellery Products manufactures various components for the fashion industry. Ellery buys fabric from two vendors: Ewers Textiles and Bramford Materials. Ellery chooses the vendor based on price. Once...
Our client, the Baker Public School District ("Baker District"), located in the State of Anywhere, was recently sued in federal court by Lucas Matsen, a junior in high school who attends Liberty High...
If it is industrial good identify buying situations and buying centers. Business Brief Tajheez as previously introduced in Week 1, is a reliable online app-based valuable service for homeowners and...
Summarize the below article. "The COVID-19 pandemic has significantly impacted modern society, forcing businesses to adapt and adapt to their new reality. Authenticity is crucial for survival, as 63%...
Let F(x, y, z) = (x cos^2 y)i + (yx)j + (z sin^2 y)k be a vector field on R3 . Let f : R3 R be a function defined by f(x, y, z) = e^x + z^3 cos (xy). (a) Find the gradient of f. (b) Find the...
Provide an example of how an international company of your choice (for example, Unilever or Mondelez, but you can select any international company you would like) changes its distribution channels...
Recommendations you would suggest to the company (progressive insurance) based on your review of their marketing strategy Strengths: Things they do well (minimum 3) Ideas for Improvement (minimum 3)...
How have digital services changed your relationship with retailers over the past 3-5 years? Which digital retail services do you find the most value-added to you as a consumer? Are there any services...
Show that the peak of the black body spectrum as a function of ? is given by eq. (22.14) kg T Wmax = 2.82
If a firm drops a product line, it will lose the revenue from that product. This loss is controllable and direct with respect to the decision to keep or drop the product. Dropping a product might...
You read an article in your local newspaper, The Herald Times, about your citys expenditures on snow removal for the most recent winter. The Herald Times reports that there were 20 major snowfalls...
I simply dont understand this! I went from a winner to a loser in one month because some bozo in accounting changed his spreadsheet, griped LuAnne Leffler, a sales representative for DisplayCo, a...
Refer to the financial statements of Best Buy in Appendix A near the end of the book. Look at the cad consolidated statements of earnings (income statement).How many years are included and what are...
Accounting is an information and measurement system that ____________information about an organizations business activities. a. Translates b. Records c. Chooses d. Prints out
External users of financial information include: a. Purchasing managers b. Service managers c. The chief executive officer d. Lenders

A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All

Question:

Expert Answer:

To calculate the balance in accounts receivable at the end o... View the full answer

Managerial accounting

Students also viewed these finance questions