Yordi expects total sales of $348,000 in January and $390,000 in February. Assum

Question

Yordi expects total sales of $348,000 in January and $390,000 in February. Assume that Yordi's sales are collected as follows: (Click the icon to view the collections.) November sales totaled $290,000, and December sales were $350,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar. (If a box is not used in the table leave the box empty, do not enter a zero.) Cash Receipts from Customers January Februaryi More Info Total sales January February 80% in the month of the sale 10% in the month after the sale 6% two months after the sale 4% never collected Cash Receipts from Customers: 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 Pr

Explanation / Answer

Calculate cash receipt from customer :

January February Total sales 348000 390000 Cash receipts from customers Nov-Credit sales, collection of nov. sales in jan 17400 Dec.-Credit sales, collection of Dec. sales in jan 35000 Dec-Credit sales, collection of dec. sales in feb 21000 Jan-Credit sales, collection of Jan. sales in jan 278400 Jan-Credit sales, collection of Jan. sales in Feb 34800 Feb-Credit sales, collection of Feb. sales in feb 312000 Total cash receipts from customers 330800 367800

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