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Question Content Area Preparing a Schedule of Cash Collections on Accounts Receivable Kailua and Company is a legal services firm. All sales of legal services
Question Content Area
Preparing a Schedule of Cash Collections on Accounts Receivable
Kailua and Company is a legal services firm. All sales of legal services are billed to the client there are no cash sales Kailua expects that, on average, will be paid in the month of billing, will be paid in the month following billing, and will be paid in the second month following billing. For the next months, the following sales billings are expected:
May $
June
July
August
September
Required:
Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter Be sure to enter percentages as whole numbers.
Kailua and Company Schedule
August September
June:
$fill in the blank
times fill in the blank
$fill in the blank
$fill in the blank
July:
$fill in the blank
times fill in the blank
fill in the blank
$fill in the blank
times fill in the blank
fill in the blank
August:
$fill in the blank
times fill in the blank
fill in the blank
$fill in the blank
times fill in the blank
fill in the blank
September:
$fill in the blank
times fill in the blank
fill in the blank
fill in the blank
Total cash receipts $fill in the blank
$fill in the blank
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