Homework Answers
| Calculations | Particulars | Sep | Oct | Nov | Dec |
| A | Sales | 12600 | 15500 | 22600 | 18600 |
| B = A x 75% | Credit Sales | 9450 | 11625 | 16950 | 13950 |
| C = A x 25% | Cash Sales | 3150 | 3875 | 5650 | 4650 |
| D = B of previous month x 40% | Collections One month after sales | 3780 | 4650 | 6780 | |
| E = B two months back x 60% | Collections Two month after sales | 5670 | 6975 | ||
| F = C+D+E | Total cash receipt | 15970 | 18405 |
Explanation for D and E
40% of Collection of credit sales is made one month after sale and remaining 60% two months after sales
So, collection of credit sales of Oct
= 40% in November and 60% in December
In November
= $11,625 x 40%
= $4,650
In December
= $11,625 x 60%
= $6,975
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