PLEASE SHOW WORK, I DONT UNDERSTAND HOW YOU GET THE CORRECT ANSWERS IN THE SECON

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PLEASE SHOW WORK, I DONT UNDERSTAND HOW YOU GET THE CORRECT ANSWERS IN THE SECOND BOX. THANKS

16. Camper Company projects the following sales: EEB (Click on the icon to view the projected sales.) Camper collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,300, which represents Decembers sales on account. Camper projects the following cash receipts from customers: EEB (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 30% of the total Begin by computing the cash sales and sales on account for each month if cash sales are only 30% of the total January February March 6,600 15,400 22,000 S 12,000 S 10,800 S Cash sales (30%) Sales on account (70%) Total sales Now, recalculate cash receipts from customers for each month if cash sales are only 30% of the total 28,000 25,200 $ 40,000 36,000 $ anuaryFebruary Marh $12,000 S 10,800 S Cash receipts from cash sales Cash receipts from sales on account Total cash receipts from customers $6,600 25,200 24,300 S 38,80031,800 12,300 28,000

Explanation / Answer

the total sales is 40,000 for jan out of which 35% is collected in the month itself which will be 40,000*35%= 14000 Rest being credit sale 40,000*65%= 26000 it is given in question the credit sale is collected in next month following the sale , thus credit sale of jan will be collected in Feb and credit sale of feb $23,400 will be collected in March In Jan credit sale of December will be calculated which is $12,300 being account receivable at end of december Jan cash sale 14,000 sales on account 12,300 total cash collection 26,300 Feb cash sale 12,600 sales on account (jan) 26,000 total cash collection 38,600 March cash sale 7,700 sales on account (jan) 23,400 total cash collection 31,100

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