The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the five months ending December 2021 August September October November December R320 000 R330 000 R325 000 R340 000 R410 000 Additional information: Cash sales comprise 40% of total sales. These customers are entitles to a 4% discount. Credit sales are collected as follows: 40% in the month of sale - these customers get a 2% discount 55% in the month after the sale 5% is written off as bad debts Credit sales for August will total: O A. R125 440 O B. R192 000 O C. R128 000 O D. R320 000
The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the five months ending December 2021 August September October November December R320 000 R330 000 R325 000 R340 000 R410 000 Additional information: Cash sales comprise 40% of total sales. These customers are entitles to a 4% discount. Credit sales are collected as follows: 40% in the month of sale - these customers get a 2% discount 55% in the month after the sale 5% is written off as bad debts Credit sales for August will total: O A. R125 440 O B. R192 000 O C. R128 000 O D. R320 000
Chapter7: Budgeting
Section: Chapter Questions
Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...
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