Question

16. Crowley Company projects the following sales: E (Click on the icon to view the projected sales.) Crowley collects sales on account in the month after the sale. The Accounts Receivable balance on January 1 is $13,500, which represents December's sales on account. Crowley projects the following cash receipts from customers: (Click on the icon to view the cash receipts from customers.) Recalculate cash receipts from customers if total sales remain the same but cash sales are only 20% of the total. Data Table Begin by computing the cash sales and sales on account for each month if cash sales are only 20% of the total. February January March January February March Cash sales (20%) Cash sales (25%) 5,000 $ 5,500 $ 6,000 15,000 16,500 18,000 Sales on account (80%) Sales on account (75%) 20,000 $ 22,000 $ 24,000 20,000 $ 22,000 $ 24,000 Total sales Total sales Now, recalculate cash receipts from customers for each month if cash sales are only 20% of the total. Data Table January February March Cash receipts from cash sales Cash receipts from sales on account January February March Total cash receipts from customers Cash receipts from cash sales $4 5,000 $ 5,500 $ 6,000 13,500 15,000 16,500 Cash receipts from sales on account 2$ 18,500 $ 20,500 $ 22,500 Total cash receipts from customers Print Done Enter any number in the edit fields and then continue to the next question.

Answer 1

	January	February	March
Cash sales (20%)	4000	4400	4800
Sales on account (80%)	16000	17600	19200
Total sales	20000	22000	24000

	January	February	March
Cash receipts from cash sales	4000	4400	4800
Cash receipts from sales on account	13500	16000	17600
Total cash receipts from customers	17500	20400	22400