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Homework: Chapter 22 HW Save 9 of 11 (2 complete) HW Score: 16.78%, 1.85 of 11 pts Score: 0 of 1 pt S22-15 (similar to) Question Help Bashies expects total sales of $700,000 for January and $355,000 for February. Assume that Bashies's sales are collected as follows: (Click the icon to view the collection history.) November sales totaled $395,000, and December sales were $399,000. Prepare a schedule of cash receipts from customers for January and February Round answers to the nearest dollar. (if a box is not used in the table leave the box empty, do not enter a zero.) Cash Receipts from Customers January February Total sales January February Cash Receipts from Customers: Nov-Credit sales, collection of Nov. sales in Jan Dec - Credit sales collection of Dec. sales in Jan Dec redit sales collection of Dec. sales in Feb Enter any number in the edit fields and then click Check Answer All parts showing Clear A Check Answer Type here to search

Answer 1

Cash receipts from customers

	January	February
Total sales	700,000	355,000
	January	February
Cash receipts from customers
November credit sales - Collection of November sales in January	395,000 x 5% = 19,750	0
December credit sales - Collection of December sales in January	399,000 x 30% = 119,700	0
December credit sales - Collection of December sales in February	0	399,000 x 5% = 19,950
January credit sales - Collection of January sales in January	700,000 x 60% = 420,000	0
January credit sales - Collection of January sales in February	0	700,000 x 30% = 210,000
February credit sales - Collection of February sales in February	0	355,000 x 60% = 213,000
Total cash receipts	$559,450	$442,950

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