Kingbird needs to calculate the company's expected cash receipts for the upcoming month to determine whether...

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Kingbird needs to calculate the company's expected cash receipts for the upcoming month to determine whether additional financing is needed. Typically, the company's sales consist of 40% cash sales and 60% credit sales. Of the credit sales, 55% are collected in the same month, and 42% are collected in the following month. The remainder is generally uncollected. Total budgeted sales in June are $136,000 and in July are $186,000. What amount of total cash receipts would Kingbird expect to collect in July? Total cash receipts $ Kingbird needs to calculate the company's expected cash receipts for the upcoming month to determine whether additional financing is needed. Typically, the company's sales consist of 40% cash sales and 60% credit sales. Of the credit sales, 55% are collected in the same month, and 42% are collected in the following month. The remainder is generally uncollected. Total budgeted sales in June are $136,000 and in July are $186,000. What amount of total cash receipts would Kingbird expect to collect in July? Total cash receipts $

Answer rating: 100% (QA)

To calculate the total cash receipts expected in July we need to determine the cash portion of the s... View the full answer