S9-10 (similar to) Ruby Service anticipates the folowing sales revenue over a iv

Question

S9-10 (similar to) Ruby Service anticipates the folowing sales revenue over a ive-month period ts collection history indicates that credit sales are collected as follows 1 (Click the icon to viewr the colections data ) How much cash will be collected in January? In Febuary? In March? For the quarter in total? Click the icon to view the sales dala.) The company's sales are 40% cash and 60% credit Ruby Service Cash Collections Budget For the Months of January through March January Cash sales 6,160 Colection of credi sales 20% Month of sale 40% Month after 30% Two months after Total cash coßections Enter any number in the edn felds and then click Check Answer 3 panann;- Ciear Al Chock Answer °Type here to search

Explanation / Answer

Calculations Particulars November December January February March A Total Sales          16,000          10,800          15,400          12,200          14,800 B = A x 40% Cash Sales            6,400            4,320            6,160            4,880            5,920 C = A x 60% Credit Sales            9,600            6,480            9,240            7,320            8,880 D = C x 20% Collection in month of sales            1,920            1,296            1,848            1,464            1,776 E = C of previous month x 40% Collection in second month            3,840            2,592            3,696            2,928 F = C two month before x 30% Collection in third month            2,880            1,944            2,772 G = B+D+E+F Total cash collections          13,480          11,984          13,396

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