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How can I find 4th quarter sales? 4th Qtr.-Cash sales 4th Qtr.-Credit sales collected in 4th qtr 50% in the quarter of the sale 25%
How can I find 4th quarter sales?
4th Qtr.-Cash sales 4th Qtr.-Credit sales collected in 4th qtr 50% in the quarter of the sale 25% in quarter after the sale 23% two quarters after the sale 2% never collected Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales (20%) 1st Qt-credit sales (80%), 50% collected in 1st qtr. 1st Qtr-Credit sales (80%), 50% collected in 2nd qtr. 2nd Qtr-Cash sales (20%) 2nd Qtr-Credit sales (80%), 50% collected in 2nd qtr. 2nd Qtr-Credit sales (80%), 50% collected in 3rd qtr. 3rd Qtr.-Cash sales (20%) 3rd Qtr.-Credit sales (80%), 50% collected in 3rd qtr 3rd Qtr.-Credit sales (80%), 50% collected in 4th qtr. 4th Qtr.-Cash sales (20%) 4th Qtr.-Credit sales (80%), 50% collected in 4th qtr Total cash receipts from customers $ 40,000 88,000 176,000 $ 176,000 77,000 154,000 $ 154,000 132,000 264,000 $ 264,000 55,000 110,000 $ 304,0001$ 407,0001$ 550,0001$ 429,000!$ 1,690,000Step by Step Solution
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