Fill in the missing amounts in the following schedule. Half of each month's sales are on account.
Question:
Half of each month's sales are on account. March sales amounted to $60,000. 60% of credit sales are collected in the month of sale: 40% is collected in the following is the Japanese nationalcurrency.
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Particulars Sales Cash Receipts From cash sales From sales on accounts Total Cash Receipts April S80,000 May $60,000 June S $45,000 S34,000
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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