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could i get some help? Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has cash and carry customers and credit customers. OfficeMart estimates that
could i get some help?
Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale Projected sales for the next three months are as follows: October $125,000 November 160,000 December 234.000 The Accounts Receivable balance on September 30 was $86,000 Prepare a schedule of cash collections from sales for October November, and December Round at calculations to the nearest whole dollar ] OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected in November Collected in December December sales on account: Collected in December 10 Total cash receipts Step by Step Solution
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