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J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September (actual) $ 55,000 October $ 45,000 November 40,000
J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year:
Fourth Quarter | |
---|---|
September (actual) | $ 55,000 |
October | $ 45,000 |
November | 40,000 |
December | 65,000 |
Experience has shown that 35 percent of sales are collected in the month of sale, 55 percent are collected in the following month, and 10 percent are never collected.
lets get help with doing a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December).
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