Question
From the following data calculate the estimated cash received from credit sales for December. Credit sales for October, $10000; November, $15000; December, $14000 Credit sales
- From the following data calculate the estimated cash received from credit sales for December.
Credit sales for October, $10000; November, $15000; December, $14000
Credit sales are normally settled in the pattern, 70% in the month of sale, 20% in the month following the sale, and the balance in the second month following the sale.
- $14000
- $11400
- $13800
- $10000
- $12200
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Financial Accounting
Authors: Carl Warren
13th Edition
1133607616, 978-1133607618
