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Ivanhoe Industries expects credit sales for January, February, and March to be $ 191,500, $ 257,000, and $ 298,700, respectively. It is expected that 75%
Ivanhoe Industries expects credit sales for January, February, and March to be $ 191,500, $ 257,000, and $ 298,700, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Calculate cash collections from customers for each month.
IVANHOE INDUSTRIES Schedule of Expected Collections | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Collections by Month | ||||||||||
Sales | Jan | Feb | Mar | Total | ||||||
January | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | $ enter a dollar amount | |||||
February | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
March | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||
Total Collections |
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