Business, 20.08.2020 01:01 mrtroll9145

The LaPann Corporation has obtained the following sales forecast data: July August September October Cash sales $ 80,000 $ 70,000 $ 50,000 $ 60,000 Credit sales $ 240,000 $ 220,000 180,000 200,000The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the following the month of sale and the remainder in the second month following the month of sale. There are no bad debts. Required:1. The budgeted accounts receivable balance on September 30 is:A) $126,000B) $148,000C) $166,000D) $190,0002. The budgeted cash receipts for October are:A) $188,000B) $248,000C) $226,000D) $278,000

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The LaPann Corporation has obtained the following sales forecast data: July August September October...