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Calista Gardens has gathered the following information regarding their cash collections of sales: 80% of the sales are collected in cash in the month of
Calista Gardens has gathered the following information regarding their cash collections of sales: 80% of the sales are collected in cash in the month of the sale. 20% are collected in the first month after the sale. Accounts receivable at the end of 2018 was $10,000 Sales for the first 3 months of 2019 are as follows: January 35,000 February 25,000 March 50,000 Total 110,000 Prepare a monthly schedule of cash collections for Calista Gardens for January, February and March for the first quarter of 2019.
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