Question
2021 November credit sales were $40,000 and December sales were $60,000. Prepare a cash collection schedule for the 1st quarter. Sales Jan 20,000 Feb 30,000
2021 November credit sales were $40,000 and December sales were $60,000. Prepare a cash collection schedule for the 1st quarter.
Sales
Jan 20,000
Feb 30,000
March 40,000
10% of the sales are cash and balance on account
20% of credit sales are collected during the month
65% of sales are collected following month balance collected month after
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
10th Edition
053875446X, 978-0538754460
