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A Chito clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales are as follows (in thousands of yen): :
A Chito clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales are as follows (in thousands of yen): : (Click the icon to view the sales forecast.) Sales are 20% cash and 80% on credit. Fifty percent of the credit accounts are collected in the month of sale, 40% in the month following the sale, and 10% in the following month. No uncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are 89,000 (10% of November credit sales of $140,000 and 50% of December credit sales of $150,000). Requirement 1. Prepare a schedule showing sales and cash collections for January, February, and March, 20X8. (Enter all values in thousands of yen): Requirement 1. Prepare a schedule showing sales for January, February, and March, 20X8. Sales budget January February March Credit sales Cash sales - X Data Table Total sales January February March 205.000 228,000 249,000 Print Done Enter any number in the edit fields and then click Check
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