From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and
Fantastic news! We've Found the answer you've been seeking!
Question:
From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and Aug 2016:
Actual
April May
Credit sales 168000 176000
Estimated
June July
Credit sales 186000 164000
Credit sales are normally settled according to the following pattern: 60 per cent in the month following sale, and 35 percent in the second month following the sale. Five percent of accounts are never settled.
Expert Answer:
Posted Date:
