Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has given the sales details for the first half of the year as follows: Ksh. 000 January 160,000 February 230,000 March 284,000 April

A company has given the sales details for the first half of the year as follows:

Ksh. 000

January

160,000

February

230,000

March

284,000

April

330,000

May

290,000

June

370,000

20% of sales are for cash and the balance is on credit. Of the credit sales, 30% is collected in the month of sale; 60% one month later; 8%, two months later and the balance is unrecoverable and therefore written off as bad debts.

Required:

Calculate the debtors collection (in ksh.000) for the month of June.

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

The Role Of Credit Rating Agencies In Responsible Finance

Authors: Daniel Cash

1st Edition

3030037088, 978-3030037086

More Books

Students also viewed these Finance questions