Yordi expects total sales of $350,000 in January and $394,000 in February. Assum

Question

Yordi expects total sales of $350,000 in January and $394,000 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 $340,000. 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 FebruaryMore Info Total sales JanuaryFebruary 60% in the month of the sale 20% in the month after the sale 18% two months after the sale 296 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.-Cr Feb.-Credit sales, collection of Feb. sales in Feb Total cash receipts from customers Print Done edit sales, collection of Jan. sales in Feb

Explanation / Answer

January February Total sales 350000 394000 January February Cash Receipts from Customers: Nov.—Credit sales, collection of Nov. sales in Jan 52200 Dec.—Credit sales, collection of Dec. sales in Jan. 68000 Dec.—Credit sales, collection of Dec. sales in Feb. 61200 Jan.—Credit sales, collection of Jan. sales in Jan. 210000 Jan.—Credit sales, collection of Jan. sales in Feb. 70000 Feb.—Credit sales, collection of Feb. sales in Jan. 236400 Total Cash Receipts from Customers 330200 367600

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