Question
The following credit sales are budgeted by Viva company: January $124,000 February 120,000 March 135,000 April 140,000 May 142,000 Collection of accounts receivable based on
The following credit sales are budgeted by Viva company:
January $124,000
February 120,000
March 135,000
April 140,000
May 142,000
Collection of accounts receivable based on prior years is estimated as
- 50% collected in month of sale
- 30% in month following the sale
- 18% in second month following the sale
- 2% not collectible
How much does the company anticipate as cash receipts for March?
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Access Audit Handbook
Authors: (CAE) Centre For Accessible Environments
2013th Edition
1859464920, 978-1859464922
