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Coala sdn bhd (CSB) is legal service firm. All sales of legal services are billed to...

Coala sdn bhd (CSB) is legal service firm. All sales of legal services are billed to the client ( there are no cash sales). CSB expects that on average 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next five months, the following sales billings are expected:


RM

May
84,000

June
100,800

July
77,000

August
   86, 800

September
   91,000


REQUIRED

Prepared a schedule of collection for august and September


business   accounting   
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Answer #1

Solution:

Statement of Schedule of Collection for August and September:

Particulars June July Cash Collection Schedule Calculation August September (100,800*25%) 25200 (77,000*50%) 38500 (77,000*25

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