Refer to the Yeamans schedule of cash receipts from customers that you prepared in Short Exercise S22-9.

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Refer to the Yeaman’s schedule of cash receipts from customers that you prepared in Short Exercise S22-9. Now assume that Yeaman’s sales are collected as follows:
In short exercise Yeaman expects total sales of $333,000 in January and $407,000 in February. Assume that Yeaman’s sales are collected as follows:
50% in the month of the sale
30% 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.
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Related Book For  answer-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133866292

5th edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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