A company is working on their budgets for the year 2021 few of their expectations for 2021. Accounts Receivable on January 1 Sales in January Sales in February Sales in March Sales in April $43,330 $60,923 $50,825 $77,902 $61,401 Historically, this company's collection pattern for sales has been 19% as cash and 81% on account. The sales on account get collected 53% one month foll the sale and the remainder two months following the sale. The Accounts Receivable on January 1 is the result of credit sales in Decemb 2020 and thus is expected to be collected according to the sales on account (53%/47%). How much should this company expect in Cash Collections for the month of Fohruan? (round to the nearest whole dollar/innut.code 1

A company is working on their budgets for the year 2021 few of their expectations for 2021. Accounts Receivable on January 1 Sales in January Sales in February Sales in March Sales in April $43,330 $60,923 $50,825 $77,902 $61,401 Historically, this company's collection pattern for sales has been 19% as cash and 81% on account. The sales on account get collected 53% one month foll the sale and the remainder two months following the sale. The Accounts Receivable on January 1 is the result of credit sales in Decemb 2020 and thus is expected to be collected according to the sales on account (53%/47%). How much should this company expect in Cash Collections for the month of Fohruan? (round to the nearest whole dollar/innut.code 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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