Browning Inc. has projected the following sales information for the fourth quarter of 2013: Cash sales...
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Browning Inc. has projected the following sales information for the fourth quarter of 2013: Cash sales Credit sales Total sales October Total cash collections for December are: $19,000 35,000 $54,000 November $26,000 45,000 $71,000 December $32,000 60,000 $92,000 Credit sales are collected over a two-month period, with 60 percent collected in the month of sale and 40 percent collected in the month following sale. Browning Inc. has projected the following sales information for the fourth quarter of 2013: Cash sales Credit sales Total sales October Total cash collections for December are: $19,000 35,000 $54,000 November $26,000 45,000 $71,000 December $32,000 60,000 $92,000 Credit sales are collected over a two-month period, with 60 percent collected in the month of sale and 40 percent collected in the month following sale.
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Calculate the total cash collections for December Credit Sales Colle... View the full answer
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0133392883
6th Canadian edition
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
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