Yada expects total sales of $348,000 in January and $394,000 in February. Assume that Yada's sales...
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Yada expects total sales of $348,000 in January and $394,000 in February. Assume that Yada's sales are collected as follows: i (Click the icon to view the collections.) November sales totaled $270,000, and December sales were $280,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Accounts Receivable balance on February 28. Round answers to the nearest dollar. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Prepare schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Receipts from Customers Total sales Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. Jan.-Credit sales, collection of Jan. sales in Feb. Feb.-Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers January January February C February More info 60% in the month of the sale 20% in the month after the sale 18% two months after the sales 2% never collected Print Done - X Determine the Net Accounts Receivable balance on February 28. Feb.-Credit sales, collection of Feb. sales in Apr. Feb.-Credit sales, collection of Feb. sales in Mar. Jan.-Credit sales, collection of Jan. sales in Mar. Net Accounts Receivable balance on February 28 Yada expects total sales of $348,000 in January and $394,000 in February. Assume that Yada's sales are collected as follows: i (Click the icon to view the collections.) November sales totaled $270,000, and December sales were $280,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Accounts Receivable balance on February 28. Round answers to the nearest dollar. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Prepare schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Receipts from Customers Total sales Cash Receipts from Customers: Nov.-Credit sales, collection of Nov. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Jan. Dec.-Credit sales, collection of Dec. sales in Feb. Jan.-Credit sales, collection of Jan. sales in Jan. Jan.-Credit sales, collection of Jan. sales in Feb. Feb.-Credit sales, collection of Feb. sales in Feb. Total cash receipts from customers January January February C February More info 60% in the month of the sale 20% in the month after the sale 18% two months after the sales 2% never collected Print Done - X Determine the Net Accounts Receivable balance on February 28. Feb.-Credit sales, collection of Feb. sales in Apr. Feb.-Credit sales, collection of Feb. sales in Mar. Jan.-Credit sales, collection of Jan. sales in Mar. Net Accounts Receivable balance on February 28
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Total Sales Cash Receipts from Customers NovCredit Sales Collection of Nov Sales in Jan DecCredit S... View the full answer
Related Book For
Horngrens Accounting
ISBN: 978-0134674681
12th edition
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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