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spin
22 days ago
9

Matterhorn, Inc. had the following sales for the past six months. Matterhorn collects its credit sales​ 30% in the month of​ sal

e, 60% one month after the​ sale, and​ 10% two months after the sale. Cash Sales Credit Sales January ​$50,000 ​ $50,000 February ​$70,000 ​$110,000 March ​$55,000 ​ $95,000April ​$78,000 ​$130,000 May ​$80,000 ​$105,000 June ​$75,000 ​$148,0001. What are Matterhorn's total cash receipts for the month of March?
Business
1 answer:
harina [3.2K]22 days ago
4 0
The total cash receipts for March amount to $154,500. This is calculated by combining cash sales of $55,000 with the credit sales collected during this period, leading to overall receipts.
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1 month ago
Hugh akston took out a 30 year mortgage with an ear of​ 5.9%. if hugh borrowed​ $300,000 to buy his​ home, then his monthly paym
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The formula for calculating the present value of an ordinary annuity is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
With the present value set at 300000
PMT is the amount for monthly payments?
R is the interest rate at 0.059
K indicates monthly compounding, which is 12 as payments are made monthly
N represents the time period of 30 years
To derive the formula for PMT
PMT=pv÷ [(1-(1+r/k)^(-kn))÷(r/k)]
PMT=300,000÷((1−(1+0.059÷12)^(
−12×30))÷(0.059÷12))
=1,779.41
7 0
9 days ago
Read 2 more answers
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