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i need the answer quickly Company Z makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected
i need the answer quickly
Company Z makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 20% in the month following sale, and 14% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month 1 2 3 4 Total sales $72,000 $80,000 $62,000 $42,000 Total cash receipts in Month 4 will be: $46,400. $34,160. $46,760 $61,200Step by Step Solution
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