Question
Elite Supply Companys sales, 55% of which are for cash and the other 45% sold on credit, over the past three months were: August September
Elite Supply Companys sales, 55% of which are for cash and the other 45% sold on credit, over the past three months were: August September October $ 70,000 $ 180,000 $ 130,000 a. Estimate Elites cash receipts in October if the companys collection period is 30 days. $ b. Estimate Elites cash receipts in October if the companys collection period is 45 days $ c. What would be Elites accounts receivable balance at the end of October if the companys collection period is 30 days? $ d. What would be Elites accounts receivable balance at the end of October if the companys collection period is 45 days?
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