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Trailers expects total sales of $699,500 for January and $346,000 for February. Assume that Trailers' sales are collected as follows: (Click the icon to view
Trailers expects total sales of $699,500 for January and $346,000 for February. Assume that Trailers' sales are collected as follows: (Click the icon to view the collection history.) November sales totaled $391,000, and December sales were $402,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Accounts Receivable balance on February 28. Round answers to the nearest dollar. Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) More info 40% in the month of the sale 30% in the month after the sale 26% two months after the sale 4% never collected \begin{tabular}{l||c||c|} & January & February \\ \hline \hline Total sales & & \\ \hline & & \\ \hline Cash Receipts from Customers: & January & February \\ \hline Nov.-Credit sales, collection of Nov. sales in Jan. & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{ll||l||l|} \hline Nov.-Credit sales, collection of Nov. sales in Jan. & & \\ \hline Dec.-Credit sales, collection of Dec. sales in Jan. & & \\ \hline Dec.-Credit sales, collection of Dec. sales in Feb. & & \\ \hline Jan.-Credit sales, collection of Jan. sales in Jan. & & \\ \hline Jan.-Credit sales, collection of Jan. sales in Feb. & & \\ \hline Feb.-Credit sales, collection of Feb. sales in Feb. & & \\ \hline \end{tabular} Dec.-Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. Jan.-Credit sales, collection of Jan. sales in Feb. Feb.-Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers
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