December). It posted the following sales figures for the third quarter of 2014: $1,939,000 (July), $1,985,000 (August), and $2,113,000 (September). The company ells 37% of its products on credit, and 63% are cash sales. The company collects credit sales as follows: 32% in the following month, 50% two months later, and 7% three months later, with 1% defaults. What are the anticipated cash inflows for the last quarter of 2014? Siven the July sales of $1,939,000, "he amount collected in July is $[ (Round to the nearest dollar.) "he amount collected in August is $ (Round to the nearest dollar.) "he amount collected in September is $. (Round to the nearest dollar.) "he amount collected in October is $| (Round to the nearest dollar.) "he amount not collected is $. (Round to the nearest dollar.) Siven the August sales of $1,985,000, "he amount collected in August is $. (Round to the nearest dollar.) "he amount collected in September is $ (Round to the nearest dollar.) he amount collected in October is $]. (Round to the nearest dollar.) "he amount collected in November is $. (Round to the nearest dollar.) "he amount not collected is S. (Round to the nearest dollar.)

December). It posted the following sales figures for the third quarter of 2014: $1,939,000 (July), $1,985,000 (August), and $2,113,000 (September). The company ells 37% of its products on credit, and 63% are cash sales. The company collects credit sales as follows: 32% in the following month, 50% two months later, and 7% three months later, with 1% defaults. What are the anticipated cash inflows for the last quarter of 2014? Siven the July sales of $1,939,000, "he amount collected in July is $[ (Round to the nearest dollar.) "he amount collected in August is $ (Round to the nearest dollar.) "he amount collected in September is $. (Round to the nearest dollar.) "he amount collected in October is $| (Round to the nearest dollar.) "he amount not collected is $. (Round to the nearest dollar.) Siven the August sales of $1,985,000, "he amount collected in August is $. (Round to the nearest dollar.) "he amount collected in September is $ (Round to the nearest dollar.) he amount collected in October is $]. (Round to the nearest dollar.) "he amount collected in November is $. (Round to the nearest dollar.) "he amount not collected is S. (Round to the nearest dollar.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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