Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast
sales for September, October, November, and December as
follows:
| Actual: | |||
| July | $ | 97,100 | |
| August | 105,100 | ||
| Forecast: | |||
| September | 114,200 | ||
| October | 94,500 | ||
| November | 121,900 | ||
| December | 107,000 | ||
Based on past experience, it is estimated that 24% of a month’s
sales are collected in the month of sale, 46% are collected in the
month following the sale, and 5% are collected in the second month
following the sale.
Required:
Calculate the estimated cash receipts for September, October, and
November.
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Scottsdale Co. has actual sales for July and August and forecast
sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November,...
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Experience has shown that 25 percent of sales are collected in
the month of sale, 65 percent are collected in the following month,
and 10 percent are never collected.
Prepare a schedule of cash receipts for J. Lo’s Clothiers covering
the fourth quarter (October through December).
Experience has shown that 25 percent of sales are...
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