Question
watt's lighting stores made the following sales projection for the next six months. all sales are credit sales. march $35,000, april 41,000, may 30,000, june
watt's lighting stores made the following sales projection for the next six months. all sales are credit sales. march $35,000, april 41,000, may 30,000, june 39,000,augusts 49,000. sales in jan. and feb/ were $38,000 and $47,000 respectively. experience has shown that of total sales, 10 percent are uncollectible 30 percent are collected in the month of sale, 40 % are collected in the following month. and 20 percent are collected 2 months after the sale. prepare amonthly cash receipts schedule for the firm fro match through august. of the sales expected to be made during the 6 months from march through august how much will still be uncollected at the end of august? how much of this is expected to be collected later?
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