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Fill in the missing amounts in the following schedule XXXXXXXXXXXXX July August September Sales* 278,000 208,500 Cash Receipts XXXXXXXXXXXXXXX XXXXXXXXXXXXXXXX XXXXXXXXXXXXXX From Cash Sales 157,800
Fill in the missing amounts in the following schedule
XXXXXXXXXXXXX | July | August | September |
Sales* | 278,000 | 208,500 |
|
Cash Receipts | XXXXXXXXXXXXXXX | XXXXXXXXXXXXXXXX | XXXXXXXXXXXXXX |
From Cash Sales | 157,800 | ||
From Sales on Account + | 114,675 | ||
Total Cash Receipts |
*Half of each months sales are on account. June Sales amounted to 208,500
+ 70% of credit sales is collected in the month of sale; 30% is collected in the following month
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