A Tahara clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast...

 

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A Tahara clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales are as follows (in thousands of yen): 7 (Click the icon to view the sales forecast.) Sales are 20% cash and 80% on credit. Sixty percent of the credit accounts are collected in the month of sale, 30% in the month following the sale, and 10% in the following month. No uncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are 107,800 (10% of November credit sales of VS130,000 and 60% of December credit sales of V$158,000). Requirement Prepare a schedule showing sales and cash collections for January, February, and March, 20X8. (Enter all values in thousands of yen): 1. Requirement 1. Prepare a schedule showing sales for January, February, and March, 20X8. Sales budget January February March Credit sales Cash sales Total sales Prepare a schedule showing cash collections for January, February, and March, 20X8. Cash collections from customers January February March Cash sales V For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers 7: Data Table January February V201,000 V230,000 V246,000 March A Tahara clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales are as follows (in thousands of yen): 7 (Click the icon to view the sales forecast.) Sales are 20% cash and 80% on credit. Sixty percent of the credit accounts are collected in the month of sale, 30% in the month following the sale, and 10% in the following month. No uncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are 107,800 (10% of November credit sales of VS130,000 and 60% of December credit sales of V$158,000). Requirement Prepare a schedule showing sales and cash collections for January, February, and March, 20X8. (Enter all values in thousands of yen): 1. Requirement 1. Prepare a schedule showing sales for January, February, and March, 20X8. Sales budget January February March Credit sales Cash sales Total sales Prepare a schedule showing cash collections for January, February, and March, 20X8. Cash collections from customers January February March Cash sales V For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers 7: Data Table January February V201,000 V230,000 V246,000 March

Answer rating: 100% (QA)

Solution Calculations Particulars January February March A Tot... View the full answer