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Fitbands' estimated sales are: Oct. $131,969 195,702 Nov. Dec. 249,299 124,289 Jan Feb. 124,262 Mar. 124,354 What are the balances in accounts receivable for January,
Fitbands' estimated sales are: Oct. $131,969 195,702 Nov. Dec. 249,299 124,289 Jan Feb. 124,262 Mar. 124,354 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January 124,289 X February March Feedback Check My Work The ending balance is a function of the beginning balance plus sales made less collections. Calculate the ending balance accounts receivable should have at the end of each month given the amounts remaining after the percentage-based collections are made. (HINT: The ending balance is the amount remaining after the collections have been completed and includes remaining uncollected percentages from prior months as well)
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