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Aretes expects total sales of $701,500 for January and $353,000 for February. Assume that Aretes's sales are collected as follows: (Click the icon to view
Aretes expects total sales of $701,500 for January and $353,000 for February. Assume that Aretes's sales are collected as follows: (Click the icon to view the collection history.) November sales totaled $400,000, and December sales were $403,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar. (If a box is not used in the table leave the box empty; do not enter a zero.) Cash Receipts from Customers January February Total sales January February Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan Dec.-Credit sales, collection of Dec. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. Jan.-Credit sales, collection of Jan. sales in Feb. Feb.-Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers More Info 40% in the month of the sale 30% in the month after the sale 27% two months after the sale 3% never collected Print Done
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