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How do you fill in the missing amounts in the following schedule. AprilMayJune Sales* $258,000$193,500$ Cash receipts: From cash sales $$$145,800 From sales on account**
How do you fill in the missing amounts in the following schedule.
AprilMayJune
Sales* $258,000$193,500$
Cash receipts:
From cash sales $$$145,800
From sales on account** $$106,425$
Total cash receipts $$$
- Half of each month's sales are on account. March sales amounted to $193,500
** 70% of credit sales is collected in the month of sale; 30% is collected in the following month.
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