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Music World reports the following budgeted sales: August, $190,000; and September, $240,000. Cash sales are 60% of total sales, and all credit sales are collected
Music World reports the following budgeted sales: August, \$190,000; and September, $240,000. Cash sales are 60% of total sales, and all credit sales are collected in the month following the sale. Prepare a schedule of cash receipts from sales for September. The Guitar Shoppe reports the following budgeted sales: August, $170,000; and September, $220,000. For its total sales, 35% are immediately collected in cash, 50% are credit sales and collected in the month following sale, and the remaining 15% are written off as uncollectible. Prepare a schedule of cash receipts from sales for September. QS 20-21 (Algo) Schedule of cash receipts with uncollectibles LO P2 Wells Company reports the following budgeted sales: September, $53,000; October, $66,000; and November, $85,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November
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