Homework Answers
| Expected Cash Collections | = | $ 616,600 | |
| Workings: | |||
| January: | |||
| Sales [$750000 X (1 - 0.21)] | = | $ 5,92,500 | |
| Add: | Accounts receivable, Beginning balance | = | $ 97,000 |
| Total receivables | = | $ 6,89,500 | |
| Less: | Accounts receivable, Ending balance | = | $ -72,900 |
| Expected Cash Collections | = | $ 6,16,600 |
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