How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month |April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) Cash balance (April 1, 2021) |P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000

How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month |April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) Cash balance (April 1, 2021) |P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges). O P7,700 O P8,500 O P7,750 O P10,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...

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