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PLEASE SHOW WORK FOR ENDING BALANCE FOR ACCOUNTS RECEIVABLE FOR CASH COLLECTION PART AND THE ENDING BALANCE....I don't know what the 70% of AR balance
PLEASE SHOW WORK FOR ENDING BALANCE FOR ACCOUNTS RECEIVABLE FOR CASH COLLECTION PART AND THE ENDING BALANCE....I don't know what the 70% of AR balance for unpaid December sales and 30% unpaid November means. Please help meee
Required: In the space provided under the basic information for the problem create the following: **PLEASE SHOW FULL Work ending balance of Accounts receivable** 2. Ending balance of Accounts Receivable Every cell of your assignment must contain either a cell reference or a formula. You may not change anything within the boxed area that contains the basic information. Round your answers to the nearest whole dollar. February BASIC INFORMATION Sales in units by month Selling price per unit January 6,500 $ 8.50 March 7,000 April 9,000 May 8,800 June 7,900 July 6,900 August 10,500 September 9,200 October 8,500 November 5,700 December 4,300 6800 15% Collection cycle for Sales Cash sales in month Collection of Sales on Account In current month In first subsequent month In second subsequent month Beginning Accounts Receivable balance 35% 50% 15% 54,000 70% of Accounts receivable balance respresents unpaid December sales; 30% represents unpaid November sales. $Step by Step Solution
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