From the following data for Fantastic Sales, calculate the receipts from the accounts receivable for September,...

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From the following data for Fantastic Sales, calculate the receipts from the accounts receivable for September, October and N

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Answer 1

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Expected Cash Receipts from Accounts Receivable:
	September	October	November
Cash collections from -
July ($105,000*30/100)	$31,500
August ($90,00050/100); ($90,00030/100)	$45,000	$27,000
September ($92,00020/100); ($92,00050/100); ($92,000*30/100)	$18,400	$46,000	$27,600
October ($106,00020/100); ($106,00050/100)		$21,200	$53,000
November ($87,000*20/100)			$17,400
Total Expected Cash Receipts from Accounts Receivable	$94,900	$94,200	$98,000

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Answer 2

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