Hi! This is sparkle cousin she told me you all are helping herunderstand what he

Question

Hi! This is sparkle cousin she told me you all are helping herunderstand what her sister is doing in school you all are agodsent, now i have a problem can you help me, please show theworking if you can help. Ann sell sports kit10% of sales are cash transaction and theremainder is on an month's credit. Ann gets one month's credit onall purchase made. ........................... ...Sales..........Purchase December 2001.......$30,000.........$16,000 Janusry 2002...........$25,000.........$14,000 February 2002........$18,000..........$20,000 How much cash was collected on january 2002 How much was paid to suppliers in the month of February2002 How much cash was collected from credit sales on February2002 Hi! This is sparkle cousin she told me you all are helping herunderstand what her sister is doing in school you all are agodsent, now i have a problem can you help me, please show theworking if you can help. Ann sell sports kit10% of sales are cash transaction and theremainder is on an month's credit. Ann gets one month's credit onall purchase made. ........................... ...Sales..........Purchase December 2001.......$30,000.........$16,000 Janusry 2002...........$25,000.........$14,000 February 2002........$18,000..........$20,000 How much cash was collected on january 2002 How much was paid to suppliers in the month of February2002 How much cash was collected from credit sales on February2002

Explanation / Answer

1) cash collected in Jan 2002 : 90% of dec sales (.9*30000)=27000+10% of Jan sales(.1*25000)=2500 so cash collected 27000+2500=$29500 : 2)cash paid supplier Feb 2002 ..is 100% of Jan purchases$14000 : 3) cash collected Feb 2002: 90% of Jan sales(.9*25000)=22500+ 10% of febsales(.1*18000)=1800 so cash collected 22500+1800=$24300

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