From the data for Chan Enterprises, calculate the estimated cash received from credit sales for June. Credit sales for April-June are given in the table.MonthCredit salesApril $20,000May$22,000June$25,000Credit sales are normally settled in the pattern: 60% in the month of sale and 40% in the month following the sale.Group of answer choices$25,000$15,000$23,800$22,000

Fill in the Blank QuestionFill in the blank question.A manufacturing company's sales budget indicates the following sales: January: $30,000; February: $20,000; March: $15,000. The company expects 80% of the sales to be on account. Credit sales are collected 30% in the month of the sale and 70% in the month following the sale. The total cash receipts collected during March will be $.

Mzwakhe Pty Ltd has provided you with the following information to assist in the budget preparation. The marketing department has estimated monthly sales as follows:MonthUnitsJuly6 000August7 000September5 000October4 000November3 000 The selling price per unit is R150 per unit.   All sales are on credit.  Based on the past experience, credit sales are expected to be collected in the following pattern:         40% in the month of sale.         50% in the month following sale.         10% uncollectable.The beginning of accounts receivable balance (excluding uncollectable amounts) on 1 July will be R130 000.  The company maintains finished goods inventories equal 10% of the following month’s budgeted sales. The inventory of finished goods on 1 July will be 600 units.  Each unit requires two (2) kilograms of Material B on hand at the end of each month equal to 20% of the following month’s production needs.  The inventory of Material B on hand in July will be 2 400 kilograms.  Material A costs R10 per kilogram. Each unit requires 1,5 hours at R50 per hour.Required:Filli in the missing figures by choosing the correct answer from the options provided:1.  Production budget AugustSeptemberBudgeted sales in units7 0005 000Add: Blank 1Blank 2Blank 3Total needs  Less: Blank 4Blank 5Blank 6Units to be producedBlank 7Blank 82.      Collection from customers JulyAugustAccounts receivableBlank 9 July salesBlank 10Blank 11August sales Blank 12Total cash collectionsBlank 13Blank 143. Material purchases budget for AugustProduction requiredBlank 15X 2 kgBlank 16Total needsBlank 17Add: closing inventoryBlank 18Materials neededBlank 19Less: opening inventoryBlank 20Total material purchasesBlank 21Cost per kgBlank 22Total material costBlank 23

Gardner Company expects sales for October of $238,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $62,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?

Our sourdough bakery had sales of $598 in December. Projected sales for the next quarter are: January $1,173 February $1,387 March $1,652 Sales are 59% cash and the remainder on credit. Debtors pay in the month following the sale. Calculate total cash collected from sales for the month of February. Please enter your answer to 2 decimal places.

In the current accounting period, sales (calculated on an accrual basis) are $180,000 and the cash received from sales is $215,000, therefore:credit sales that occurred in a previous period may have been paid for in the current period.cash sales for the period were greater than credit sales.credit sales that occurred in the current period may not yet have been paid for.none of the options are correct.