Homework Answers
| Amount $ | |||
| Collection of credit sales | January | February | March |
| Collection of December sales | 52,580 | - | - |
| Collection of January sales | 135,720 | 38,280 | - |
| Collection of February sales | - | 144,300 | 40,700 |
| Collection of March sales | - | - | 154,440 |
| Total | 188,300 | 182,580 | 195,140 |
| Working: | |||
| Amount $ | |||
| Collection of credit sales | January | February | March |
| Collection of December sales | =239000*22% | - | - |
| Collection of January sales | =174000*78% | =174000*22% | - |
| Collection of February sales | - | =185000*78% | =185000*22% |
| Collection of March sales | - | - | =198000*78% |
| Total | 188,300 | 182,580 | 195,140 |
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