Office World Inc. has \"cash and carry\" customers and credit customers once wor

Question

Office World Inc. has "cash and carry" customers and credit customers once world estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit following the month of sale. Projected sales for customers. Of the credit customers, 25% pay their the next three months of 2016 are as follows August September October The Accounts Receivable tbalance on July 31, 2016, was $80,000 accounts in the month of sale, while the remaining 75% pay their accounts in the month $119,000 149,000 218,000 Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar Office World Inc Schedule of Collections from Sales For the Aupust September October Recepts from cash sales: Cash saies ly sales on accourt Colectied in August August sales on account Colliected in August Collected in September September sales on ccount Collected in September Collected in October October sales on accoure Collected in October ? T_T Total cash re ceets 2 more Check My Vrk ies remanng

Explanation / Answer

Schedule of collection from sales :

August September October receipts from cash sales 35700 44700 65400 July Sales on account Collected in august 80000 august sales on account Collected in august 20825 Collected in september 62475 September sales on account Collected in september 26075 Collected in october 78225 October sales on account Collected in october 38150 Total cash receipts 136525 133250 181775

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.