Homework Answers
Answer : Below is the Table showing Sales Receipts from Accounts Receivable for the three Months ending 30 November 2021
| Credit Sales | September 2021 | October 2021 | November 2021 | |
| July 2021 | 615500 | 246200 (615500 * 0.40) | 0 | 0 |
| August 2021 | 575300 | 115060 (575300 * 0.20) | 230120 (575300 * 40) | 0 |
| September 2021 | 448300 | 179320 (448300 * 0.40) | 89660 (448300 * 0.20) | 179320 (448300 * 0.40) |
| October 2021 | 626900 | 0 | 250760 (626900 * 0.40) | 125380 (626900 * 0.20) |
| November 2021 | 419000 | 0 | 0 | 167600 (419000 * 0.40) |
| Total | 540580 | 570540 | 472300 |
As per the requirement given
That 40% of sales collected in the month of sale
20% following Month of Sale
40% in two month following the sale ,
The same has been solved.
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