Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred....

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Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $299500 $290000 $319700 $279100 $209800 Budgeted purchases $143900 $119400 $128800 $131000 $90000 Customer amounts on account are collected 65% in the month of sale and 35% in the following month. . Cost of goods sold is 65% of sales. . Marigold purchases and pays for merchandise 35% in the month of acquisition and 65% in the following month. Operating expenses are: Salaries, $49600; Depreciation, $11600; Rent, $14700; and Utilities, $14100. . Accounts payable is used only for inventory acquisitions. How much cash will Marigold receive during May from customers? Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $299500 $290000 $319700 $279100 $209800 Budgeted purchases $143900 $119400 $128800 $131000 $90000 Customer amounts on account are collected 65% in the month of sale and 35% in the following month. . Cost of goods sold is 65% of sales. . Marigold purchases and pays for merchandise 35% in the month of acquisition and 65% in the following month. Operating expenses are: Salaries, $49600; Depreciation, $11600; Rent, $14700; and Utilities, $14100. . Accounts payable is used only for inventory acquisitions. How much cash will Marigold receive during May from customers?

Answer rating: 100% (QA)

Cash Receipts from Customers in May Marigold Inc Heres how to calculate the cash Marigol... View the full answer