Question

Junior Snacks reports the following information from its sales budget: Expected Sales: October $ 140,000 November 148,000 December 184,000 All sales are on credit and are expected to be collected 45% in the month of sale and 55% in the month following sale. The total amount of cash expected to be received from customers in November is: Multiple Choice $143,600. $77,000. $148,000. $225,000. $66,600.

Answer 1

The total amount of cash expected to be received from customers in November is: $143.600

Step-by-step explanation:

To get the total amount of cash expected to be received from customers in November we have to calculate the 55% of October and the 45% of November.

October Sales $140,000.

45% 63.000

55% is 77.000 This amount will be collected in November

November 148,000

45% 66.600

55% is 81.400 This amount will be collected in December.

Total Amount that will be collected in November is 77.000 +66.600=143.600

Answer 2

$143,600

Step-by-step explanation:

Junior Snacks

October credit sales collected(55% *

$140,000) $77,000

November credit salescollected (45% * $148,000) $66,600

Cash collected in November$143,600

Therefore the total amount of cash expected to be received from customers in November is: $143,600