Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16. Camen Company projects the following sales: (Click on the icon to view the projected sales.) Camen collects sales on account in the month after

image text in transcribed

16. Camen Company projects the following sales: (Click on the icon to view the projected sales.) Camen collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,700, which represents December's sales on account. Camen projects the following cash receipts from customers: B (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 35% of the total. Data Table Begin by computing the cash sales and sales on account for each month if cash sales are only 35% of the total. January February March January February March Cash sales (35%) Cash sales (45%) $ 9,450 $ 11,700 $ 13,500 Sales on account (65%) 11,550 14,300 16,500 Sales on account (55%) $ 21,000 $ 26,000 $ 30,000 Total sales $ 21,000 $ 26,000 $ 30,000 Total sales Print Done i Data Table January February March Cash receipts from cash sales $ 9,450 $ 11,700 $ 13,500 12,700 11,550 14,300 Cash receipts from sales on account $ 22,150 $ 23,250 $ 27,800 Total cash receipts from customers Enter any number in the edit fields and then click Check Answer. Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing That Matters Case Studies

Authors: Norman David Marks

1st Edition

B089J17FFW, 979-8650160410

More Books

Students also viewed these Accounting questions