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Answer the following questions below : Accounts Receivable Aging Schedule and Cash Budget Exercise 9-24 Bayco Wholesale Inc. found that about 45 percent of its
Answer the following questions below :
Accounts Receivable Aging Schedule and Cash Budget Exercise 9-24 Bayco Wholesale Inc. found that about 45 percent of its sales are for cash. Bayco Wholesale has the following accounts receivable payment experience: OBJECT Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the secod month after the sale 20 76 3 Bayco Wholesale's anticipated sales for the next few months are as follows: December $375,000 January February 340,000 he 318,000 000012 O8 8 March 325,000 332.000 April 2913 810 Required: 1. Calculate credit sales for January, February, March, and April. 2. Prepare a schedule of cash receipts for March and April. Credit sales for January are $ AV Credit sales for February are $ Credit sales for March are $ Credit sales for April are $ Cash receipts for March are $ Cash receipts for April are $Step by Step Solution
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