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Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. Sales in January and Februaty were
Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. Sales in January and Februaty were $41,000 and $39,000, respectively. Experierge has shown that of total sales receipts 5 percent are uncollectible, 50 percent are collected in the month of sale, 40 percent are colected in the following month, and 5 percent are collected two months after sale. Prepare a monthly cash receipts schedule for the firm for March through August
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