Liza's budgets sales of $46,000 for May and $54,000 for June. Assume 60% of Liza's sales...

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Liza's budgets sales of $46,000 for May and $54,000 for June. Assume 60% of Liza's sales are for cash. The remaining 40% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. LIZA'S Schedule of Cash Receipts from Sales Sales Cash receipts from: Cash sales Collections of prior period sales Total cash receipts June $ 54,000 $ 0 Liza's budgets sales of $46,000 for May and $54,000 for June. Assume 60% of Liza's sales are for cash. The remaining 40% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. LIZA'S Schedule of Cash Receipts from Sales Sales Cash receipts from: Cash sales Collections of prior period sales Total cash receipts June $ 54,000 $ 0

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LIZAS Schedule of Cash Receipts from Sales June Sales 54000 Cash receipts from Cash sales 32000 Coll... View the full answer