Question
The Bell Heim Company began operations on January 1 and has the following credit sales for the first six months of operation: Month January February
The Bell Heim Company began operations on January 1 and has the following credit sales for the first six months of operation: Month January February March April May June Credit Sales $100,000 $120,000 $140,000 $160,000 $105,000 $ 50,000 Throughout this entire period, the firms credit customers maintained a constant payments pattern as follows: 30% paid in the month of sales, 50% paid in the first month following the sale, and 20% paid in the second month following the sale. 5. Assume 90 days per calendar quarter. What is the days sales outstanding (DSO) for the first quarter and second quarter? 6. Construct an aging schedule as of June 30. Use account ages of 0-30, 31-60, and 61-90 days. 7. Construct an uncollected balances schedule for the second quarter as of June 30
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