Wells Company reports the following budgeted sales: September, $55,000; October, $66,000; and November, $80,000. All sales...

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Wells Company reports the following budgeted sales: September, $55,000; October, $66,000; and November, $80,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November. WELLS COMPANY Schedule of Cash Receipts from Sales November Sales $80,000 Cash receipts from: Total cash receipts Wells Company reports the following budgeted sales: September, $55,000; October, $66,000; and November, $80,000. All sales are on credit, and 5% of those credit sales are budgeted as uncollectible. Collection of the remaining 95% of credit sales are budgeted as follows: 60% in the first month after sale and 35% in the second month after sale. Prepare a schedule of cash receipts from sales for November. WELLS COMPANY Schedule of Cash Receipts from Sales November Sales $80,000 Cash receipts from: Total cash receipts

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Wells Company Schedule of Cash Receipt from Sales November Particulars Amount Sales 80000... View the full answer