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The answrs under credit card sales are incorrect, but I am very confused why. I did the previous month sales multipled by 40%. Can you
The answrs under credit card sales are incorrect, but I am very confused why. I did the previous month sales multipled by 40%. Can you please help?
You can't see November or December in this image, so here is the rest of that info:
Sales for November: 21,962,000
Cash Sales for November: 2,196,200
Sales for December: 20,429,000
Cash Sales for December: 2,042,900
Wellman Company makes cash (10% of total sales), credit card (40% of total sales), and account (50% of total sales sales. Credit card sales are collected in the month following the sale, net a 1% credit card fee. This means that if the sale is $100, the credit card companys fee is S1, and Wellman receives S99, Account sales are collected as follows: 50% in the first month following the sale, 30% in the second month following the sale, 12% in the third month following the sale, and 8% never collected. The following table identifies the projected sales for the next year: BEE (Click the icon to view the table.) Requirement Prepare a statement showing the cash expected each month from the collections from these sales. Begin by calculating the expected collections form cash sales, then calculate the expected cash collections from credit card sales, collections on account, and the total collections in the following steps. Round your answers to the nearest whole dollar. Complete all input cells. Enter a "0" for items with a zero balance.) Data Table Cash Cred Month Sales Sales Card Sales January 12,355,000 1,235,500 Wellman Company Projected Sales 15,948,000 1,594,800 4,942,000 February Month Sales Month Sales 13,262,000 1.326.200 6,379,200 March 12,355,000 July January 21,732,000 April 19,372,000 1,937,200 5,304,800 February 15,948,000 August 14,923,000 20,952,000 2,095,200 7,748,800 May March 13,262,000 September 11,995,000 June 18,885,000 1.888.500 8,380,800 April 19,372,000 October 18,865,000 July 21,732,000 2,173,200 7,554,000 May 20,952,000 November 21,962,000 August 14,923,000 1,492,300 8,692,800 June 18,885,000 December 20,429,000 1,199,500 5,969,200 September 11,995,000 October 18.865.000 1.886.500 4,798,000Step by Step Solution
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