Question
EX 23-19 cash Office Mate Supplies Inc. has cash and carry customers and credit customers. Office Mate estimates that 25% of monthly sales are to
EX 23-19 cash Office Mate Supplies Inc. has "cash and carry customers and credit customers. Office Mate 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 first three months of 2010 are as follows August$250 000 September 290.000 October 270.000 The Accounts Receivable balance on July 31, 2010, was $200,000 Prepare a schedule of cash collections from sales for August, September, and October on collected in August 300.000
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