Question
Ferris Amusement tickets estimated sales are: January $231,800 February $231,900 March $381,280 April $212,950 May $28,277 June $281,840 What are the balances in accounts receivable
Ferris Amusement tickets estimated sales are:
| January | $231,800 |
| February | $231,900 |
| March | $381,280 |
| April | $212,950 |
| May | $28,277 |
| June | $281,840 |
| What are the balances in accounts receivable for April, May, and June if 70% of sales are collected in the month of sale, 20% are collected the month after the sale, and 10% are collected the second month after the sale? | ||||||
| What are the cash receipts for April, May and June? | ||||||
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
5th Edition
0912503351, 9780912503356
