Question
Yogi expects total sales of $359,000 in January and $416,000 in February. Assume that Yogi's sales are collected asfollows: 40% in the month of the
Yogi expects total sales of $359,000 in January and $416,000 in February. Assume that Yogi's sales are collected asfollows:
40% in the month of the sale
30% in the month after the sale
26% two months after the sales
4% never collected
November sales totaled $290,000, and December sales were $350,000. Prepare the 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.(If an input field is not used in the table leave the input fieldempty; do not enter azero.)
Prepare the schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input fieldempty; do not enter azero.)
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