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PLEASE HELP 16. Cadman Company projects the following sales: (Click on the icon to view the projected sales.) Cadiran collects sales on account in the
PLEASE HELP
16. Cadman Company projects the following sales: (Click on the icon to view the projected sales.) Cadiran collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,100, which represents December's sales on account. Cadran projects the following cash receipts from customers: (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 5% of the total. Begin by computing the cash sales and sales on account for each month if cash sales are only 5% of the total. Data Table March 1,500 S January February 1,550 S 1.150 S 29,450 21,850 Cash sales (5%) Sales on account (95%) 28.500 March $ January February 4.650 $ 3,450 $ 12,100 28,350 Cash receipts from cash sales S 31.000 S 23,000 S 30,000 Total sales 4,500 19,550 Cash receipts from salos on account Now, recalculate cash receipts from customers for each month if cash sales are only 5% of the total. $ Total cash receipts from customers 16,750 $ 29,800 $ 24,050 February March 1,500 $ January 1,550 $ 12100 Cash receipts from cash sales Cash receipts from sales on account 1,150 $ Print Done 20636 Total cash receipts from customers A Data Table March Cash sales (15%) $ January February 4,650 S 3,450 $ 26,350 19.550 Sales on account (85%) 4,500 25,500 30,000 $ 31,000 S 23,000 $ Total salos Print DoneStep by Step Solution
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