Refer to the Berry's schedule of cash receipts from customers that you prepared in Short Exercise S22-9.
Question:
60% in the month of the sale
20% in the month after the sale
18% two months after the sale
2% never collected
Prepare a revised schedule of cash receipts for January and February.
Refer to the Short Exercise S22-9,
Berry expects total sales of $359,000 in January and $405,000 in February. Assume that Berry's sales are collected as follows:
80% in the month of the sale
10% in the month after the sale
6% two months after the sales
4% never collected
November sales totaled $350,000, and December sales were $325,000. Prepare a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar.
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Related Book For
Horngrens Accounting
ISBN: 978-0134674681
12th edition
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura
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