Credit Sales are received as follows: 50% in month of sale 30% in month following sale 20%
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Question:
Credit Sales are received as follows:
50% in month of sale
30% in month following sale
20% in second month following sale"
Does that mean its recorded as going forward in months or backwards. Sorry just having trouble with the wording off the question and not sure if my question makes sense either. To break it down, does it mean I use 50% of sales in May and 30% in June or 50% sales in May and 30% sales in April. Photo of each for reference.
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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