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From the following data from Adamia Enterprise, calculate the receipts of accounts receivable for April, May and June 2020. ACTUAL ESTIMATED February March April May
From the following data from Adamia Enterprise, calculate the receipts of accounts receivable for April, May and June 2020.
ACTUAL
ESTIMATED
February
March
April
May
June
Credit Sales
$180,000 february
$94,000 march
$112,500 April
$87,400 may
$163,200 June
Credit sales are normally settled according to the following pattern:
25 per cent in the month of sale, 40 percent in the month following the sale and the remainder in the second month following the sale.
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