Packers expects total sales of 697 500 for January and 345 000
Packers expects total sales of $697,500 for January and $345,000 for February. Assume that Packers’s sales are collected as follows:
60% in the month of the sale
20% in the month after the sale
17% two months after the sale
3% never collected
November sales totaled $389,000, and December sales were $401,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar.
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