Lakewood jet skis has budgeted sales for june and july at $ 420 comma 000 and $ 510 comma 000 , respectively. sales are 75% credit, of which 30% is collected in the month of the sale and 70% is collected in the following month. what is the accounts receivable balance on july 31?
a. $189,000b. $288,000c. $216,000d. $360,000

All options are incorrect for given values

Correct answer is $267,750

Explanation:

Provided Budgeted sales for the month of

Month   Sales               Credit 75%       Collected in month 30%         Bal 70%

June = $420,000         $315,000             $94,500                            $220,500

July = $510,000           $382,500            $114,750                             $267,750

Accounts receivable balance on 31 July will be only 70% of credit Sales of July.

Thus Amount of Accounts Receivables Balance on July 31 = $267,750

what is wrong with black soap shampoo?

explanation:

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.