Answer:
Total cash collection= $235,600
Explanation:
Giving the following information:
Cash Sales Credit Sales
January $80,000 $180,000
Credit Sales
December= 47,000*2= $94,000
Collections on sales:
50% in month of sale
40% in month following sale
10% in second month following sale
The accounts receivable balance on January 1 of the current year was $75,000, of which $47,000 represents uncollected December sales and $28,000 represents uncollected November sales.
Cash collection January:
Sales on cash Jnauary= 80,000
Sales on account January= 180,000*0.5= 90,000
Sales on account December= 94,000*0.4= 37,600
Sales on account November= 28,000
Total cash collection= $235,600
A budget is termed as the estimation of the revenue and the expenses as well with the specified period of time. The budgets can be made for and by the people as per the individuals and the group of the persons.
Total cash collection= $235,600
The following information is given below:
Cash Sales Credit Sales
January $80,000 $180,000
Credit Sales
December= [tex]47,000\times2[/tex]= $94,000
Collections on sales:
50% in the month of sale
40% in the month following sale
10% in the second month following sale
The accounts receivable balance on January 1 of the current year was $75,000, of which $47,000 represents uncollected December sales and $28,000 represents uncollected November sales.
Cash collection January:
Sales on cash January= 80,000
Sales on account January= [tex]180,000\times0.5= 90,000[/tex]
Sales on account December= [tex]94,000\times0.4= 37,600[/tex]
Sales on account November= 28,000
Total cash collection= $235,600
To know more about the accounts receivable, refer to the link below:
https://brainly.com/question/15417849
