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help pleasee Jayson Company projects the following sales for the first three months of the year: $15,800 in January; $16,100 in February; and $10,500 in
help pleasee
Jayson Company projects the following sales for the first three months of the year: $15,800 in January; $16,100 in February; and $10,500 in March. The company expects 80% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1 . Round to the nearest dollar. Requirement 2. Prepare a revised schedule of cash receipts it recelpts trom saies on account are bu\% in the month of the sale, 15\% in the month tollowing the saie, and b\% in the second month following the sale. What is the balance in Accounts Receivable on March 31 ? (If an input field is not used, leave the input field empty. Do not enter a zero.)Step by Step Solution
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