Lopez inc found that about 35 percent of its sales during

Assignment Help Accounting Basics

Reference no: EM13584759

Lopez Inc. found that about 35 percent of its sales during the month were for cash. Lopez has the following accounts receivable payment experience:
Percent paid in the month of sale 25
Percent paid in the month after the sale 68
Percent paid in the second month after the sale 5

Lopez's anticipated sales for the next few months are as follows:
April $200,000
May 240,000
June 230,000
July 240,000
August 250,000

Required:
1. Calculate credit sales for May, June, July, and August.
2. Prepare a schedule of cash receipts for July and August.

Reference no: EM13584759

Questions Cloud

The innermost is a solid sphere that has a radius r1 a : consider the concentric metal sphere and spherical shells that are shown in the figure below. the innermost is a solid

The corporation has earned a total of 613100 in net income : the following is a summary of all relevant transactions of vicario corporation since it was organized in 2012.in 2012

From a population that is not normally distributed and : from a population that is not normally distributed and whose standard deviation is not known a sample of 6 items is

A sample of 200 elements from a population with a known : a sample of 200 elements from a population with a known standard deviation is selected. for an interval estimation of m

Lopez inc found that about 35 percent of its sales during : lopez inc. found that about 35 percent of its sales during the month were for cash. lopez has the following accounts

A piston of mass m can move without friction inside a long : a piston of mass m can move without friction inside a long vertical cylinder sealed from the bottom and opened from the

An estimate of a population parameter that provides an : an estimate of a population parameter that provides an interval of values believed to contain the value of the

A quality control technician is checking the weights of a : a quality control technician is checking the weights of a product. she takes a random sample of 8 units and weighs each

Instead of tsi why would a slant medium containing only : instead of tsi why would a slant medium containing only dextrose and lactose not sucrose be preferable for detecting y.

User Account

All Pages