Question

McEwen Company has budgeted the following credit sales during the last four months of the year: September, $17,000;

October, $21,000;

November $20,000;

December, $30,000.

Experience has shown that payment for the credit sales is received as follows:

50%

in the month of sale,

43%

in the first month after sale,

55%

in the second month after sale, and

22%

uncollectible. How much cash can McEwen Company expect to collect in November as a result of credit sales?

Answer 1

Answer:

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