Secure https://edugen.wileyplus.com/edugen/lti/main.uni Davis, Managerial me Rea

Question

Secure https://edugen.wileyplus.com/edugen/lti/main.uni Davis, Managerial me Read, Study & Practice Gradebook ORION Downloadable eTextbook goment > Open Assignment IGNMENT RESOURCES am 2 Chap 5.6.7 Question In the coming year, Waterway, Inc. wil be introducing its first product, a wrist brace that protects serious video gamers from repetitive motion inuries. The brace will be sold for $20 to retaiers throughout the contry All sales will be made on account. An expect ed 73% of sales wil be collected within the quarter of the sale, and another 22 % nthequarterllongeheue The remaining 5% of credit sales are expected to be uncolectbe. The sales budget ,or the coring year as follows: 2nd 3rd Quarter Quarter Quarter 4th Quarter Question 5 Question. 26,600 42,800 53,100 81,000 Prepare waterway, Inc., cash recepts budget for the coming year. (enter answeri" necessary Melda ?. Lene other nela blank. De Meera) eview Score eview Results by Study ist Quarter 2nd Quarter 3rd Quarter 4th quarter Annual Budgeted units sold Budgeted sales price Budgeted sales revenue Ist Quarter 2nd Quarter Ird Quarter th Quarter Bad Debtrs ist quarter sales 2nd quarter sales rd quarter sales 4th quarter sales 20 a 8

Explanation / Answer

1) SALES BUDGET Quarter - 1 Quarter - 2 Quarter - 3 Quarter - 4 Annual Budgeted Unit Sales               26,600                42,800               53,100                81,000           2,03,500 Sales Price $             20.00 $              20.00 $             20.00 $              20.00 $             20.00 Total Sales $       5,32,000 $        8,56,000 $     10,62,000 $      16,20,000 $     40,70,000 CASH RECEPT BUDGET Collection Details: Quarter - 1 Quarter - 2 Quarter - 3 Quarter - 4 Total 73% of the sales is collected within the same Quarter $       3,88,360 $        6,24,880 $       7,75,260 $      11,82,600 $     29,71,100 22% is collected in the following quarter of sales $        1,17,040 $       1,88,320 $        2,33,640 $       5,39,000 (22% of the First quarter in second Quarter and continious) 5% of the sales will be uncollectable $                    -   $                     -   $                    -   $                     -   $                    -   TOTAL $       3,88,360 $        7,41,920 $       9,63,580 $      14,16,240 $     35,10,100 Net account Receivable = Total Sales - Cash Receipts - Bad Debts Net account Receivable = $     40,70,000 "-"   $     35,10,100 "-"   $       2,03,500 Net account Receivable = $       3,56,400 BAD DEBTS Total Sales $       5,32,000 $        8,56,000 $     10,62,000 $      16,20,000 $     40,70,000 Uncollectable is 5% $           26,600 $            42,800 $           53,100 $            81,000 $       2,03,500

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

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