Homework Answers
Answer
--Correct Answer = Option 'B' $ 76,500
| Accounts receivables on 31 Dec will include: | |
| 90% of December sales [as 10% was collected in December] | $54,000 |
| 30% of November sales [as 10% got collected in Nov and 60% got collected in Dec] | $22,500 |
| Total Account receivables on 31 Dec | $76,500 Answer |
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Razz Company is estimating the following sales:
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10% in the month of sale
60% in the month following the sale
and the remaining 30% in the second month following the
sale.
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Hint: Some of October sales were collected in October and some
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