Furry Friends Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $156,000 June 175,000 July 180,000 All sales are on account. Seventy percent of sales are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the second month following the sale.

Prepare a schedule indicating cash collections from sales for May, June, and July. Enter all amounts as positive numbers.

Furry Friends Supplies Inc.

Cash collections Schedule

                                                               May              June            July

                                                                 $                   $                  $

Collections for May sales                   109,200           39,000          7,800

Collections for June sales                             0          122,500        43,750

Collections for July sales                            0                     0        126,000                

Total collections for the month          109,200         161,500         177,550

Explanation:

The collections in May represent 70 % of sales for May of $ 156,000

The collections in June represent 25 % of sales of May ($ 156,000) and 70 % of sales of June ( $ 175,000)

The collections in July represent 5 % of sales of May ( $156,000) 25 % of sales for June ($ 175,000) and 70 % of sales of July ( $ 180,000)

answerstop plates; security tracking of office property

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.