Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of sales. Using the following information, determine total cash collections for the quarter. January S65,000 $92,000 Total budgeted sales $157,000 February $76,000 S102,000 $178,000 March |Cash sales S73,000 Sales on account S138,600 $211,600 a. $698,000 b. $702,000 c. $211,600 d. $175,000

Deinal company had accounts receivables of $290,000 on January 1. The company collects 100% of accounts receivables in the following month from the month of sales. Using the following information, determine total cash collections for the quarter. January S65,000 $92,000 Total budgeted sales $157,000 February $76,000 S102,000 $178,000 March |Cash sales S73,000 Sales on account S138,600 $211,600 a. $698,000 b. $702,000 c. $211,600 d. $175,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EA: Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in...

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