Question
J. Los Clothiers has forecast credit sales for the fourth quarter of the year: September (actual) $ 75,000 Fourth Quarter October $ 65,000 November 60,000
J. Los Clothiers has forecast credit sales for the fourth quarter of the year:
| September (actual) | $ | 75,000 |
| Fourth Quarter | ||
| October | $ | 65,000 |
| November | 60,000 | |
| December | 85,000 | |
Experience has shown that 15 percent of sales are collected in the month of sale, 55 percent are collected in the following month, and 30 percent are never collected.
Prepare a schedule of cash receipts for J. Los Clothiers covering the fourth quarter (October through December).
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Legal Aspects Of Trade Finance
Authors: Charles Chatterjee
1st Edition
1857433890, 978-1857433890
