Brief Exercise 23-9 Your answer is partially correct. Try again. Kaspar Industri

Question

Brief Exercise 23-9 Your answer is partially correct. Try again. Kaspar Industries expects credit sales for January, February, and March to be $207,900, $264,600, and $312,700, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Collections from Customers Credit Sales January February March January February March 155,925 264,600 66,150 234,525 300,675 198,450 155,925 463,050

Explanation / Answer

As per chegg guidelines we answer one question per post. Kindly post remaining questions in next post Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Credit Sales January February March 23-9 January         155,925.00            51,975.00 February         198,450.00            66,150.00 March         234,525.00 Total collection         155,925.00         250,425.00         300,675.00 Note Instead of 264,600 it should be 207900*0.25 since 25% of January sales would be collected in February month

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