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Rockers expects total sales of $700,500 for January and $354,000 for February. Assume that Rockers's sales are collected as follows: i (Click the icon to
Rockers expects total sales of $700,500 for January and $354,000 for February. Assume that Rockers's sales are collected as follows: i (Click the icon to view the collection history.) November sales totaled $391,000, and December sales were $399,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar. (If a box is not used in the table leave the box empty; do not enter a zero.) Cash Receipts from Customers January February Total sales January February Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan. Dec. --Credit sales, collection of Dec. sales in Jan. Dec. --Credit sales, collection of Dec. sales in Feb. Jan.Credit sales, collection of Jan. sales in Jan. Jan.Credit sales, collection of Jan. sales in Feb. Feb.Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers * More Info 40% in the month of the sale 30% in the month after the sale 25% two months after the sale 5% never collected Print Done
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