Brief Exercise 21-9 Kaspar Industries expects credit sales for January, February

Question

Brief Exercise 21-9 Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, 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 $ $ $
Brief Exercise 21-9 Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, 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 February March Credit Sales anuary February March January Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: 0 of 5 used save PO. LATER

Explanation / Answer

Collections from customers

$202,100 * 75%

= 151575

$202,100 * 25%

= 50525

$264,200* 75%

=198150

$264,200 * 25%

= 66050

$319,300 * 75%

=239475

Credit sale January February March January

$202,100 * 75%

= 151575

$202,100 * 25%

= 50525

February

$264,200* 75%

=198150

$264,200 * 25%

= 66050

March

$319,300 * 75%

=239475

Total $151575 $248675 $305525

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