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A firm's sales for the month total $30,000. If the ratio of cash to credit sales is 2:3, what do cas

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A firm's sales for the month total $30,000. If the ratio of cash to credit sales is 2:3, what do cash sales total?

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Oct 19th, 2014

A firm's sales for the month total $30,000. If the ratio of cash to credit sales is 2:3, what do cash sales total?

Answer:

C. $12,000

working notes:

                                              Total sales  =  $30,000

            Ratio of cash and credit sales   =  2 : 3

                        Ratio of  cash sales         =   2 / 5 (cash sales + credit sales  =  2  +  3 = 5)

Therefore cash sales out of total sales  =  Total sales  x  (2 / 5)

                                                                     =  30,000  x  (2 / 5) 

                                                                      =  $12,000

Oct 19th, 2014

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