Amount of cash expected to be received from customers, Accounting Basics

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Amount of cash expected to be received from customers

Julia's Candy Co. reports the following information from its sales account and sales budget:
SALES: May.......... $105,000
June......... 93,000

Expected Sales: July....... $90,000
August...... 110,000
September... 120,000

Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. The total amount of cash expected to be received from customers in September is:

A. $30,000.

B. $82,500.

C. $112,500.

D. $120,000.

E. $202,500.

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Accounting Basics: Amount of cash expected to be received from customers

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Accounting Basics: Amount of cash expected to be received from customers

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Recent Questions Asked Accounting Basics

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Accounting Basics: Amount of cash expected to be received from customers

Reference No:- TGS067311

Recent Questions Asked Accounting Basics

Q : Limitations of accounting information systems

Q : Prepaid transportation costs related problem

Q : What is the dollar amount of the purchase of suits

Q : Result of current and past credit sales

Q : Amount of cash expected to be received from customers

Q : What amount be reported for patent amortization expense

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Q : Record depreciation expense on machinery

Q : Which depreciation method was used

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