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Category > Accounting Posted 28 Apr 2017 My Price 2.00

The Pitney Company's sales are 40% cash and 60% credit

The Pitney Company's sales are 40% cash and 60% credit. 50% of credit sales are collected in the month of sale, 30% in the month following the sale, and 20% is collected two months after. Budgeted sales data is as follows:
June $120,000
July $80,000
August $100,000

Accounts receivable at the end of Augu...

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Alpha Geek
(8)
Status NEW Posted 28 Apr 2017 10:04 AM My Price 2.00

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file 1493374717-Answer.docx preview (78 words )
T-----------he -----------Pit-----------ney----------- Co-----------mpa-----------ny'-----------s s-----------ale-----------s a-----------re -----------40%----------- ca-----------sh -----------and----------- 60-----------% c-----------red-----------it.----------- 50-----------% o-----------f c-----------red-----------it -----------sal-----------es -----------are----------- co-----------lle-----------cte-----------d i-----------n t-----------he -----------mon-----------th -----------of -----------sal-----------e, -----------30%----------- in----------- th-----------e m-----------ont-----------h f-----------oll-----------owi-----------ng -----------the----------- sa-----------le,----------- an-----------d 2-----------0% -----------is -----------col-----------lec-----------ted----------- tw-----------o m-----------ont-----------hs -----------aft-----------er.----------- Bu-----------dge-----------ted----------- sa-----------les----------- da-----------ta -----------is -----------as -----------fol-----------low-----------s:J-----------une----------- $1-----------20,-----------000-----------Jul-----------y $-----------80,-----------000-----------Aug-----------ust----------- $1-----------00,-----------000-----------Acc-----------oun-----------ts -----------rec-----------eiv-----------abl-----------e a-----------t t-----------he -----------end----------- of----------- Au-----------gu.-----------.. ----------- An-----------swe-----------r -----------Jun-----------e s-----------ale-----------s m-----------ay -----------be -----------ful-----------ly -----------rec-----------ove-----------red----------- Ju-----------ly -----------Sal-----------e m-----------ay -----------not----------- re-----------cov-----------ere-----------d =----------- $ -----------80,-----------000----------- ×----------- 60-----------% Ã-----------— 2-----------0% -----------=$ -----------960-----------0 A-----------ugu-----------st -----------Sal-----------e m-----------ay -----------not-----------
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