The BRS Corporation makes collections on sales according to the following schedule: The following sales have been budgeted: Budgeted cash collections in June would be:

A) $137,000
B) $85,000
C) $45,000
D) $123,000

Question

The BRS Corporation makes collections on sales according to the following schedule:

The following sales have been budgeted: The BRS Corporation makes collections on sales according to the following schedule: The following sales have been budgeted: Budgeted cash collections in June would be: A) $137,000 B) $85,000 C) $45,000 D) $123,000

Budgeted cash collections in June would be:

A) $137,000
B) $85,000
C) $45,000
D) $123,000

Devin Hopkins · Accepted Answer

Final Answer : A, Explanation :  According to the collection schedule given, 70% of sales for May, 20% of sales for April, and 10% of sales for March will be collected in June. Using the budgeted sales of $200,000 for May, $100,000 for April, and $50,000 for March, we can calculate the budgeted cash collections for June as follows:$200,000 x 70% = $140,000$100,000 x 20% = $20,000$50,000 x 10% = $5,000Total = $140,000 + $20,000 + $5,000 = $165,000Therefore, the correct answer is A) $137,000. Cash collections for June:

The BRS Corporation makes collections on sales according to the following schedule: The following sales have been budgeted: Budgeted cash collections in June would be:

A) $137,000
B) $85,000
C) $45,000
D) $123,000

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The BRS Corporation makes collections on sales according to the following schedule: The following sales have been budgeted: Budgeted cash collections in June would be:A) $137,000B) $85,000C) $45,000D) $123,000

Definitions

Learning Objectives

Learning Objectives

Related questions

The BRS Corporation makes collections on sales according to the following schedule: The following sales have been budgeted: Budgeted cash collections in June would be:

A) $137,000
B) $85,000
C) $45,000
D) $123,000