Question: CALCILATOR NEX FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 138 Avery Manufacturing has the following sales budgets for the fourth quarter Cash sales credit

 CALCILATOR NEX FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 138

CALCILATOR NEX FULL SCREEN PRINTER VERSION BACK Multiple Choice Question 138 Avery Manufacturing has the following sales budgets for the fourth quarter Cash sales credit sales October $232,900 $580,400 November 624,800 344,000 December 806,900 398,700 The accounting manager has analyzed cash collections and determined that credt sales are collected 70% in the month of sale, 20 % in the month following the sale, and 10% in the 2nd month following sale. How much cash will Avery collect in December O $1,178,080 O $1.154.790 O $898.990 O $1.205,600

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!