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Grippers expects total sales of $700,000 for January and $354,000 for February. Assume that Grippers' sales are collected as follows: A(Click the icon to view
Grippers expects total sales of $700,000 for January and $354,000 for February. Assume that Grippers' sales are collected as follows: A(Click the icon to view the collection history.) November sales totaled $397,000, and December sales were $407,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Accounts Receivable balance on February 28. Round answers to the nearest dollar. Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty, do not enter a zero.) Cash Receipts from Customers January February Total sales January February - More Info Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan. Dec.Credit sales, collection of Dec. sales in Jan. Dec.Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. Jan.Credit sales, collection of Jan. sales in Feb. 60% in the month of the sale 30% in the month after the sale 5% two months after the sale 5% never collected Feb.-Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers Print Done
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