Mark Company developed the following data for the month of June. June 1 cash balance $2,300....

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Mark Company developed the following data for the month of June. June 1 cash balance $2,300. Cash sales in June $67,000. 5. 4. A. C. B. D. Credit sales for June are $20,000; for May $10,000; and for April $16,000. 60% of credit sales are collected in the month of sale, 20% in the following month, and 10% in the second month following the sale. Purchases for May were $34,000 and for June are $40,000. Half of purchases are paid in the month of purchase and the remainder in the following month. June salaries are $28,400, utilities are $1,090, and depreciation on the building is $1,000. $ Anticipated cash receipts from accounts receivable in June equal 5 marks Anticipated total cash available in June is June cash payments for purchases are $__ Anticipated cash balance on June 30 is $_ Mark Company developed the following data for the month of June. June 1 cash balance $2,300. Cash sales in June $67,000. 5. 4. A. C. B. D. Credit sales for June are $20,000; for May $10,000; and for April $16,000. 60% of credit sales are collected in the month of sale, 20% in the following month, and 10% in the second month following the sale. Purchases for May were $34,000 and for June are $40,000. Half of purchases are paid in the month of purchase and the remainder in the following month. June salaries are $28,400, utilities are $1,090, and depreciation on the building is $1,000. $ Anticipated cash receipts from accounts receivable in June equal 5 marks Anticipated total cash available in June is June cash payments for purchases are $__ Anticipated cash balance on June 30 is $_

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A To calculate the anticipated cash receipts from accounts receivable in June we need to consider th... View the full answer