Amadio, Inc. has a beginning accounts receivable balance of $ 20,000. It expects the following sales for

Question:

Amadio, Inc. has a beginning balance of $ 20,000. It expects the following sales for the first quarter:
January ............................................................. $ 140,000
February .......................................................... 150,000
March .............................................................. 160,000
Based on past experience, Amadio believes that 60 percent of sales will be collected in the month of sale receiving a 2 percent discount. The remaining sales will be collected in the month after that sale. What are the estimated cash receipts for January through March?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...