Search. Help s The LaGrange Corporation had the folowing budgeted sales for the

Question

Search. Help s The LaGrange Corporation had the folowing budgeted sales for the first haif of the current year S 80,000 $180,000 rebruary 85, 000 $200,000 s 46,000 $160,000 s 41,000 $126,000 S 51,000 $230,000 $110,000 $200,000 March April The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To thes end, the follow information has been assembled Collections on sales 49% in month of Sale 50% in month following sale 5%,n second month folowing Sale The accounts receivable baiance on January 1 of the current year was $81000, of which $55,000 represents $26,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be 1 > DOLL F12 PrtScrrsert Delete 5 6 7 8 9 Backspke

Explanation / Answer

Calculate cash collection in January :

Cash sales of january 80000 Credit sales collection November cash collection 26000 December cash collection (55000*50/55) 50000 January cash collection (180000*45%) 81000 Total cash collection in January 237000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.