Camper collects sales on account in the month after the sale. The Accounts Receivable balance on...

 

 
 

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Camper collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,300, which represents December's sales on account. Camper projects the following cash receipts from customers: (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 5% of the total. 2000 Begin by computing the cash sales and sales on account for each month if cash sales are only 5% of the total. January February Cash sales (5%) Sales on account (95%) Total sales $ 26,000 $ 22,000 $ March 21,000 Data table Cash sales (10%) Sales on account (90%) Total sales $ $ January 2,600 $ 23,400 26,000 $ February 2,200 $ 19,800 22,000 $ March - 2,100 18,900 21,000 X Data table Cash receipts from cash sales Cash receipts from sales on account Total cash receipts from customers $ $ January 2,600 $ 12,300 14,900 $ February 2,200 $ 23,400 25,600 $ March 2,100 19,800 21,900 Camper collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $12,300, which represents December's sales on account. Camper projects the following cash receipts from customers: (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 5% of the total. 2000 Begin by computing the cash sales and sales on account for each month if cash sales are only 5% of the total. January February Cash sales (5%) Sales on account (95%) Total sales $ 26,000 $ 22,000 $ March 21,000 Data table Cash sales (10%) Sales on account (90%) Total sales $ $ January 2,600 $ 23,400 26,000 $ February 2,200 $ 19,800 22,000 $ March - 2,100 18,900 21,000 X Data table Cash receipts from cash sales Cash receipts from sales on account Total cash receipts from customers $ $ January 2,600 $ 12,300 14,900 $ February 2,200 $ 23,400 25,600 $ March 2,100 19,800 21,900

Answer rating: 100% (QA)

The calculations are shown below January February March Cash Sales 5 1300 1100 105... View the full answer