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Please show work. Thank you Double Tongues, Inc. provides online lessons in speaking a foreign language. The firm currently sells its monthly membership for $122.
Please show work. Thank you
Double Tongues, Inc. provides online lessons in speaking a foreign language. The firm currently sells its monthly membership for $122. While they sell some memberships for cash (29%) the remaining 71% of sales are on credit. The credit sales are collected as follows: 30% in the month of the sale, 48% in the month following the sale, and 20% in the second month following the sale. 2% remains uncollectible over this period. Sales for the next several months are given below: February March April Sales in Units 23677 23952 25620 26177 17206 19480 May June July Round all calculations to the nearest hundredth (two decimal places). 1. How much cash will be collected in APRIL? April Cash Collections 2. What is the Accounts Receivable balance at the end of APRIL? (Hint: this is what is still owed to the firm) April A/R BalanceStep by Step Solution
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