A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in July? a. P18,000 c. P20,000 b. P22,000 d. P24,000
A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in July? a. P18,000 c. P20,000 b. P22,000 d. P24,000
Chapter7: Budgeting
Section: Chapter Questions
Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...
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A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in July?
a. P18,000 c. P20,000
b. P22,000 d. P24,000
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