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Yogi expects total sales of $360,000 in January and $416,000 in February. Assume that Yogi's sales are collected as follows: (Click the icon to
Yogi expects total sales of $360,000 in January and $416,000 in February. Assume that Yogi's sales are collected as follows: (Click the icon to view the collections.) November sales totaled $320,000, and December sales were $290,000. 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. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Prep More info leav February. (If an input field is not used in the table Cas 70% in the month of the sale Tota 20% in the month after the sale 8% two months after the sales ary ,000 ary February $ 416,000 February 2% never collected Cas Nov ,600 Dec ,000 Print Done Dec $ 23,200 Jan ,000 Jan. 72,000 Credit SafeS, CONECTION On Jan. Sales MT GD. Yogi expects total sales of $360,000 in January and $416,000 in February. Assume that Yogi's sales are collected as 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.) Cash Receipts from Customers Total sales Cash Receipts from Customers: January February $ 360,000 $416,000 January February Nov.-Credit sales, collection of Nov. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Jan. 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 $ 25,600 58,000 $ 23,200 252,000 72,000 291,200 $ 335,600 $ 386,400 Determine the Net Accounts Receivable balance on February 28. Included in Accounts Deceivable at Determine the Net Accounts Receivable balance on February 28. Included in Accounts Receivable at February 28 Net Accounts Receivable balance on February 28
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