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Credit Sales are received as follows: 50% in month of sale 30% in month following sale 20% in second month following sale Does that mean
Credit Sales are received as follows:
50% in month of sale
30% in month following sale
20% in second month following sale"
Does that mean its recorded as going forward in months or backwards. Sorry just having trouble with the wording off the question and not sure if my question makes sense either. To break it down, does it mean I use 50% of sales in May and 30% in June or 50% sales in May and 30% sales in April. Photo of each for reference.
FANTASTIC SALES Fantastic Sales receipts from accounts receivable for three months ending 30 June 2021 april: $620,000 $ 620,000 april $310,000 may june $186,000.0 $124,000.0 may: $680,000 $ 680,000 june: $640,000 $ 640,000 $ 340,000 $ 204,000.0 $ 320,000 $ 310,000 $ 526,000 $ 648,000 FANTASTIC SALES Fantastic Sales receipts from accounts receivable for three months ending 30 June 2021 april april: $620,000 $ 620,000 $310,000 may: $680,000 $ 680,000 $204,000 june: $640,000 $ 640,000 $ may $340,000 june 128,000 $192,000 $ 320,000 $ 642,000 $ 532,000 $ 320,000
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