Calder pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?Kuzma Foods, Inc. has budgeted sales for June and July at $680,000 and $750,000, respectively. Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31?
A) $225,000
B) $202,500
C) $183,600
D) $675,000
B) $202,500
You might also like to view...
Answer the following statements true (T) or false (F)
1. Job posting is the primary method of recruiting internally. 2. LinkedIn, a business-oriented social network, is an effective way to do internal recruiting. 3. In general, the most effective sources of good external candidates are employee referrals. 4. A job specification gives a candidate a picture of both positive and negative features of the job and the organization before he or she is hired.
If a company uses a standard cost system, inventory records can be updated from the
a. vendor invoice b. purchase order c. receiving report d. purchase requisition
A goal of many waiting line problems is to help a firm find the ideal level of services that minimize the cost of waiting and the cost of providing the service
Indicate whether the statement is true or false
In most legal controversies, there is one single correct result
Indicate whether the statement is true or false