17.Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are: January; February; March; April. Budgeted sales $200,000; $300,000; $350,000; $250,000 Cash collections in April are budgeted to be:A) $321,000B) $313,000C) $320,000D) $292,00018.All of Gaylord Company's sales are on account. Thirty-five percent of the credit sales are collected in the month of sale, 45% in the month following sale, and the rest are collected in the second month following sale. Bad debts are negligible and should be ignored. The following are budgeted sales data for the company: January; February; March; April. Total sales $50,000; $60,000; $40,000; $30,000. What is the amount of cash that should be collected in March?A) $39,000B) $37,000C) $27,500D) $51,000
Hi,Thanks for requesting me. The answers are:17. B) $313,00018. D) $51,000Hope this helps!
CPA with tax experience.
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