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The Newtown Liquorice Company has projected the following monthly sales amounts for the coming half year. Sales Beginning Receivables Jan 25,000 Sales Cash Collections


 

The Newtown Liquorice Company has projected the following monthly sales amounts for the coming half year. Sales Beginning Receivables Jan 25,000 Sales Cash Collections Ending Receivables Feb 34,000 The opening accounts receivable balance at the start of the year is $31,000. Newtown has a 30 day collection period. Calculate cash collections in each of the months by completing the following table: Jan Mar Apr 28,000 42,000 Feb Mar May Jun 30,000 25,000 Apr May Jun

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