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Now assume that Bashies's sales are collected as follows: Bashies expects total sales of $698,000 for January and $355,000 for February. November sales totaled $393,000
Now assume that Bashies's sales are collected as follows: Bashies expects total sales of $698,000 for January and $355,000 for February. November sales totaled $393,000 and December sales were $395,000. The following schedule of cash receipts for January and February was prepared based upon the collection history given: (Click the icon to view the collection history.) (Click the icon to view the schedule of cash receipts.) 30% in the month of the sale 20% in the month after the sale 47% two months after the sale 3% never collected Prepare a revised schedule of cash receipts for January and February (If a box is not used in the table leave the box empty; do not enter a zero.) Reference - X Cash Receipts from Customers January February Total sales - X Cash Receipts from Customers January February More Info January February Total sales $ 698,000 $ 355,000 Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Jan. 50% in the month of the sale January February Dec. Credit sales, collection of Dec. sales in Feb. 30% in the month after the sale 16% two months after the sale 4% never collected Jan.Credit sales, collection of Jan. sales in Jan. Jan.Credit sales, collection of Jan. sales in Feb. Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan $ 62,880 118,500 Feb. Credit sales, collection of Feb, sales in Feb. Print Done Dec.Credit sales, collection of Dec. sales in Jan. Dec.Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. 63,200 Total cash receipts from customers 349,000 Jan.-Credit sales, collection of Jan. sales in Feb. 209,400 Feb.-Credit sales, collection of Feb. sales in Feb. 177,500 $ 530,380 $ Total cash receipts from customers 450,100 Print Done
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