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Preparing a Schedule of Cash Collections on Accounts Receivable Kailua and Company is a legal services firm. All sales of leg
Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an a
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KAILUA AND COMPANY SCHEDULE
CASH COLLECTIONS
PARTICULARS AUGUST SEPTEMBER
$ $
Cash Collections:-
June month $100800*25%= $25200 0
July month $77000*50%= $38500 $77000*25%= $19250
August month $86700*20%= $17340 $86700*50%= $43350
September month 0 $90000*20%= $18000
Total cash receipts $81040 $80600
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