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Yeaman expects total sales of $333,000 in January and $407,000 in February. Yeaman has the following schedule of cash receipts: Now assume that Yeaman's sales
Yeaman expects total sales of $333,000 in January and $407,000 in February. Yeaman has the following schedule of cash receipts: Now assume that Yeaman's sales are collected as follows: (Click on the icon to view new cash receipts assumptions.) November sales totaled $260,000, and December sales (Click on the icon to view the schedule of cash receipts.) were $330,000. Prepare a revised schedule of cash receipts for January and February. Round answers to the nearest dollar Data Table (If a box is not used in the table leave the box empty; do not enter a zero.) Cash Receipts from Customers More Info January February Cash Receipts from Customers Total sales January February Revised cash receipts assumptions: January February 333,000 $ Total sales 407,000 50% in the month of the sale Cash Receipts from Customers: January February 30% in the month after the sale Nov.-Credit sales, collection of Nov. sales in Jan. 18% two months after the sales Cash Receipts from Customers: 2% never collected Dec.-Credit sales, collection of Dec. sales in Jan. Nov.-Credit sales, collection of Nov. sales in Jan. $ 20,800 Dec.-Credit sales, collection of Dec. sales in Feb. Dec.-Credit sales, collection of Dec. sales in Jan. 99,000 Jan.-Credit sales, collection of Jan. sales in Jan. Print Done Dec.-Credit sales, collection of Dec. sales in Feb. $ 26,400 Jan.-Credit sales, collection of Jan. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. 199,800 Feb.-Credit sales, collection of Feb. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Feb. 99,900 Feb.-Credit sales, collection of Feb. sales in Feb. 244,200 Total cash receipts from customers 319,600 $ $ 370,500 Total cash from customers Original cash receipts assumptions: 60% in the month of the sale 30% in the month after the sale Enter any number in the edit fields and then click Check Answer. 8% two months after the sales All parts showing Clear All 2% never collected
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