Refer to the Packers schedule of cash receipts from customers that you prepared in Short Exercise S22A-17.

Question:

Refer to the Packers schedule of cash receipts from customers that you prepared in Short Exercise S22A-17. Now assume that Packers’s sales are collected as follows:

50% in the month of the sale 20% in the month after the sale 25% two months after the sale 5% never collected Prepare a revised schedule of cash receipts for January and February.

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