Question
a) London Groceries Ltd has provided the following information from its business: (Figures are in 000s) Nov Dec Jan Feb Mar Apr May Jun Sales
a) London Groceries Ltd has provided the following information from its business:
(Figures are in 000s)
| Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | |
| Sales Revenue | 720 | 800 | 1,440 | 2,160 | 2,880 | 1,640 | 1,400 | 360 |
Customers pay 40% of the sales amount in the month of sale and 60% in the month after the sale.
Required:
Prepare a statement showing the cash receipts for the SIX MONTHS FROM JANUARY TO JUNE for London Groceries Ltd. The statement should also include the total cash receipts for each month.
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
