On average, it takes 3 months before Swifty Corp. fully completes the collection cycle for its credit

Fantastic news! We've Found the answer you've been seeking!

Question:

On average, it takes 3 months before Swifty Corp. fully completes the collection cycle for its credit sales. All sales are made on account. with 20% of customers paying in the month of sale, 40% paying the month after sale, and 35% paying their balance 2 months after the sale; the remaining 5% is considered uncollectible. Given Swifty's budgeted sales for the 4 months leading up to quarter-end, as shown below, determine the company's collectible (or net) A/R balance on September 30 . Budgeted sales June $49200 July $42900 August $60400 September $68200

Posted Date: May 18, 2024 08:09 AM

See More Questions

Horizon BP in Antelope Park, Alaska, has noticed that utility bills are substantially higher when the average monthly temperature is colder. The only thing in the shop that uses natural gas is the...
Determine the carrying costs for an item costing $6.80, given the following per-unit cost information: Storage cost .............. $0.24 Handling cost............. 0.28 Production labor cost...
Freeze Frame Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Instructions Determine the amount of the ending inventory by...
The McGee Company purchased a specialized machine five years ago for $$250,000$ and has taken & $$175,000$ of depreciation to date. Suppose the company sells the machine for $$50,000$....
Is Facebook just a passing fad or is it here to stay? What are the companys greatest strengths and risks?
You have a portfolio consisting solely of stock A and stock B. The portfolio has an expected return of 10.5 percent. Stock A has an expected return of 12.0 percent while stock B is expected to return...
Consider the wrench shown, which sits purely in the x-direction; the force = 44.31 + 66.1+ 40.4R N is applied in 3D. a) Calculate the components of the force F parallel to and perpendicular to the...
Calculate the exact count of operations, with all steps and details int x = 10, y = 12, z = 14, count = 50, i, j; for (i = 1; i = 1; j = j * 2) { count - -; } }
The US enters a deep recession, and Real GDP falls substantially. Even so, forecasters ex- pect the episode to be short-lived. Assume throughout that the Fed does not respond to these developments....
The table below details three possible alternatives to replace existing machinery. The life of each alternative is 5 years. Assuming the cost of capital is 10%, depreciation for tax purposes of...
Compare and contrast the social psychology constructs of person perception and self-concept. What categories do we use to describe ourselves and others?
Q Employee stock options were offered with the first offering period commencing on March 1, 2009 and ending on May 31, 2009. A total of 8,959 shares of the Company's common stock were purchased under...
The period of a mass-spring oscillator is 2.91 s. Every time the oscillator completes a full period, the amplitude of the oscillation gets reduced to 91.4 percent of the previous amplitude. How much...
7. FALSE DILEMMA 8. GANDWAGON Definition: Fallacy example: How to revise argument: Definition: Fallacy example: How to revise argument:
People are at their peak in terms of productivity when they are _________.
Since the 1980s, the share of measured income received by the top 5 percent has _________ and that of the lowest fifth of families has _________.
At any moment in time, middle-aged people tend to have _________ incomes than both younger and older people do.

On average, it takes 3 months before Swifty Corp. fully completes the collection cycle for its credit

Question:

Expert Answer:

Students also viewed these accounting questions