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The actual sales for Dynamic Duo Limited for October 2020 and the forecasted sales for November and December 2020 and January, February and March 2021
The actual sales for Dynamic Duo Limited for October 2020 and the forecasted sales for November and December 2020 and January, February and March 2021 are as follows: October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 700 000 720 000 750 000 780 000 800 000 820 000 In the past 80% of all sales were on credit and Dynamic Duo Limited expect this trend to continue in the future. The company expects an average of 5% bad debts. Cash is received from credit sales as follows: 40 % in the first month following sale 30 % in the second month following sale 25 % in the third month following sale Complete the following table showing the receivables collection schedule for January 2021 (No Rand signs, no spaces, no cents, no negative signs, no blanks - use a 0 if no cash inflow) Receivables collection schedule for January 2021 October 2020 sales November 2020 sales December 2020 sales January 2021 sales
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