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1. ABC company commenced trading on 1st January. Its sales for the next four months were as follows: Month Total sales (Rs.) January 90,000
1. ABC company commenced trading on 1st January. Its sales for the next four months were as follows: Month Total sales (Rs.) January 90,000 February 135,000 March 220,000 April 320,000 25 per cent of credit customers pay in the month of sale, 50 per cent pay in the following month and 25 per cent take two months' credit. Required Prepare a schedule setting out ABC company's receipts from customers in January, February, March and April.
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