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Check my work The Guitar Shoppe reports the following budgeted sales: August, $200,000; and September, $210,000. For its total sales, 35% are immediately collected in
Check my work The Guitar Shoppe reports the following budgeted sales: August, $200,000; and September, $210,000. For its total sales, 35% are immediately collected in cash, 45% are credit sales and collected in the month following sale, and the remaining 20% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September. THE GUITAR SHOPPE Schedule of Cash Receipts from Sales September Sales Cash receipts from: $ 210,000 $ 100,000 Total cash receipts $ 100,000
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