Question
Office Mate Supplies Inc. has cash and carry customers and credit customers Office Mate estimates that 25% of monthly sales are to cash customers
Office Mate Supplies Inc. has "cash and carry " customers and credit customers Office Mate estimates that 25% of monthly sales are to cash customers , while the remaining sales are to credit customers . Of the credit customers , 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the first three months of 2010 are as follows : August $250,000 September 290,000 October 270,000 The Accounts Receivable balance on July 31, 2010, was $200,000. Prepare a schedule of cash collections from sales for AugustSeptember, and October
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