subject
Business, 29.03.2021 01:30 steven2669

Armand Company projects the following sales for the first three months of the​ year: $14,300 in January; $15,900 in February; and $11,100 in March. The company expects ​%60 of the sales to be cash and the remainder on account. Sales on account are collected​ 50% in the month of the sale and​ 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are ​80% in the month of the​ sale, ​15% in the month following the​ sale, and 5​% in the second month following the sale. What is the balance in Accounts Receivable on March 31​?

Help me solve it step by step please!


Armand Company projects the following sales for the first three months of the​ year: $14,300 in Jan

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 03:00
Tina is applying for the position of a daycare assistant at a local childcare center. which document should tina send with a résumé to her potential employer? a. educational certificate b. work experience certificate c. cover letter d. follow-up letter
Answers: 1
question
Business, 22.06.2019 13:50
Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.suppliesjan. 31 bal. 1,800 1,800 jan. 31 bal.supplies expensejan. 31 bal. 1,920 1,148 jan. 31 bal.prepaid insurancejan. 31 bal. 1,148 1,148 jan. 31 bal.insurance expensejan. 31 bal. 164 164 jan. 31 bal.wages payablejan. 31 bal. 1,400 1,400 jan. 31 bal.wages expensejan. 31 bal. 6,400 6,400 jan. 31 bal.truckjan. 31 bal. 17,376 17,376 jan. 31 bal.accumulated depreciation -truckjan. 31 bal. 5,068 5,068 jan. 31 bal.a. if the amount in supplies expense represents the january 31 adjustment for the supplies used in january, and $1,240 worth of supplies were purchased during january, what was the january 1 beginning balance of supplies? $answerb. the amount in the insurance expense account represents the adjustment made at january 31 for january insurance expense. if the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? amount of the premium $answerthe policy began on answerjune 1july 1august 1september 1october 1november 1 of the previous year.c. if we assume that no beginning balance existed in either in either wage payable or wage expense on january 1, how much cash was paid as wages during january? $answerd. if the truck has a useful life of four years (or 48 months), what is the monthly amount of depreciation expense, and how many months has bloomfield owned the truck? answermonths
Answers: 1
question
Business, 22.06.2019 21:00
There is just one person in our group, silvia, who seems to have radically different ideas about how to complete our project. she seems to purposely disagree with the majority opinions of the rest of us though yesterday she said something that made a lot of sense to us solve our production problem. i suggested to the entire group today that we hear silvia’s suggestions and asked silvia to share in-depth more of what she said yesterday. i am using which adaptive leader behavior?
Answers: 2
question
Business, 22.06.2019 21:30
What term is used to describe the outsourcing of logistics? a. shipper managed inventoryb. hollow logistics(smi)c. sub-logisticsd. e-logisticse. third-party logistics (3pl)
Answers: 1
You know the right answer?
Armand Company projects the following sales for the first three months of the​ year: $14,300 in Janu...
Questions
question
Social Studies, 05.02.2020 12:53
Questions on the website: 13722367