Leaverton's forecast of sales is as follows: July, $60,000; August, $90,000; September, $130,000 . Sales are normally 80 percent cash and 20 percent credit in any month. Credit sales are collected in full in the following month. Merchandise cost averages 60 percent of sales price. The company desires an inventory as of September 30 of $52,000 . The inventory as of June 30 was $25,000. The July 31
balance of accounts receivable will be
a. $12,000.
b. $48,000.
c. $18,000.
d. $0.
A
You might also like to view...
The production report for Phillips Industries, which had no beginning inventory at the beginning of the month, included the following information for September: Number of Units Completion Units started in production 81,000 . Units transferred to finished goods 72,000 . If the equivalent units for September's production were 77,400 . how many units were in process at the end of the month, and how
complete were they? a. 9,000 . 30% b. 9,000 . 60% c. 3,000 . 90% d. 6,000 . 90%
A data point that falls outside the majority of data points is known as a(n):
A. median B. variance C. range D. outlier E. mean
Social market capitalism is associated with which of the following
a. anti-unionism b. state intervention c. deregulation d. neo-liberalism
Most courts interpret a general prohibition against assignments as a mere promise not to assign
Indicate whether the statement is true or false