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Berry expects total sales of $359,000 in January and $405,000 in February. Assume that Berrys sales are collected as follows
answers to the nearest dollar. (If a box is not used in the table leave the box empty, do not enter a zero.) IULI BICS Januar
* More Info 80% in the month of the sale 10% in the month after the sale 6% two months after the sale 4% never collected Prin
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Schedule of cash collections from customers
Particulars January February
Total Sales $359000 $405000
Cash Receipts from Customers:
Nov. Credit sales, collection of Nov.sales in Jan. $350000*6% = $21000
Dec. Credit sales, collection of Dec. sales in Jan. $325000*10%= $32500
Dec. Credit sales, collection of Dec. sales in Feb. $325000*6%=$19500
Jan. Credit sales, collection of Dec. sales in Jan. $359000*80%= $287200
Jan. Credit sales, collection of Dec. sales in Feb. $359000*10%= $35900
Feb. Credit sales, collection of Dec. sales in Feb. $405000*80%= $324000
Total cash collection $ 340700 379400
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