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The following data is extracted from the sales budget of a commercial company: 60% of the monthly deferred sales receive cash during the same month.
The following data is extracted from the sales budget of a commercial company: 60% of the monthly deferred sales receive cash during the same month. 30% of it is collected during the first month that follows and the rest is received during the next month. July 12, 2018, the accounts receivable balance was 75,000, represented by the following:
60,000 of the forward sales for the month of June 2018. 15,000 forward sales for the month of May 2018.
Total sales for the month of July (2018) 50,000 cash and 150,000 deferred. The total cash receipts for the month of July 2018 are
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