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Need help with journal entries. All quarters can be added together. Invested 200,000 Journal entry required for each budget 7 Sales budget and cash receipts
Need help with journal entries. All quarters can be added together.
Invested 200,000
Journal entry required for each budget
7 Sales budget and cash receipts 4 Total 2 10% 328 $500 8 Quarter 9 Quarterly sales percent 10 Sales 11 selling price 12 Total sales 13 credit sales 14 Bad debts 15 collections month of sale 16 Collections 1st month after sale 17 Collection 2nd month after sale 18 cash sales 19 Total collections 20 21 60% 1,967 $500 983,500 786,800 78,680 26,240 157,360 65,600 26,240 196,700 117,900 190,040 177,040445,900 100% 3,278 $500 1,639,000 1,311,200 131,120 262,240 262,200 78,640 327,800 930,880 10% 328 $500 327,500 164,000 164,000 262,000 131,200 131,200 26,200 13,120 13,120 20% 655 $500 52,400 26,240 131,000 65,600 52,400 65,500 32,800 32,800 ournal entriesStep by Step Solution
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