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1 June, 07:32

Crane Company has the following sales dа ta: August September October November December Cash Sales $4000 $5000 $6000 $7000 $16000 Sales on Account $50000 $59,001 $65000 $74,490 $100000 Crane Company's credit customers have the following payment history: 40% in month of sale 57% in month following sale the rest are never collected What are budgeted cash receipts for September?

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  1. 1 June, 08:06
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    Collections for September is $ 57,100

    Explanation:

    Computation of cash receipts for September

    Collections from cash sales of September $ 5,000

    Collections from credit sales of August - 57 % of $ 50,000 $ 28,500

    Collections from credit sales of September 40 % of $ 59,001 $ 23,600

    Total collections for September $ 57,100
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