Solution-Compute estimated cash collections on accounts

Compute estimated cash collections on accounts receivable

Assignment Help Accounting Basics

Reference no: EM132682537

Question - Sales on account for the first two months of the current year are budgeted as follows.

January $311,000

February 572,000

All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows.

Collections within the month of sale:

Within discount period 60%

After discount period 15

Collections within the month following sale:

Within discount period 15

After discount period 7

Returns, allowances, and uncollectibles 3

Total 100%

Required - Compute the estimated cash collections on accounts receivable for the month of February.

Reference no: EM132682537

Questions Cloud

Define the amygdala hijack : Define the "amygdala hijack." Describe a time that you effectively managed your emotions well and maintained self-control

Explain why a phenomenological approach is better : Consider a study you can do using the phenomenological approach. Describe the study and explain why a phenomenological approach is better suited for this study

Disease staging process and reason for disease staging : Describe the disease staging process and the key reason for disease staging.

Best practices for managers on diversity in the workplace : Other executive leaders have requested you to design a training presentation on "Best Practices" for managers on diversity in the workplace

Compute estimated cash collections on accounts receivable : All sales are made on terms of 2/10, n/30 (2 percent discount if paid in 10 days, full amount by 30 days); Compute estimated cash collections on accounts

Discuss ways your organization uses technology : Discuss ways your organization uses technology to gather patient and health care information, and how this information and data are used to direct patient care.

The SOX compliance law requirements : You researched the Enron fraud case and the SOX compliance law's requirements, you provided references documenting your findings,

Explain the capstone project change proposal : Review your problem or issue and the study materials to formulate a PICOT question for your capstone project change proposal. A PICOT question starts with.

Social responsibility is very large factor in organizational : Social responsibility is very large factor in organizational success today. What measures would you have taken with organization to ensure social responsibility

User Account

All Pages

Compute estimated cash collections on accounts receivable

Reference no: EM132682537

Reference no: EM132682537

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT