(Click the icon to view the collections.) February. Assume that Yada's sales are collected as follows: November sales totaled $310,000, and December sales were $340,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Acco Receivable balance on February 28. Round answers to the nearest dollar. (If an input field is not used in the table leave the input field empty, do not enter a zero.) IID Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty, do not enter a zero.) Cash Receipts from Customers Total sales January February
(Click the icon to view the collections.) February. Assume that Yada's sales are collected as follows: November sales totaled $310,000, and December sales were $340,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Acco Receivable balance on February 28. Round answers to the nearest dollar. (If an input field is not used in the table leave the input field empty, do not enter a zero.) IID Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty, do not enter a zero.) Cash Receipts from Customers Total sales January February
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Yada expects total sales of $368,000 in January and $400,000 in February. Assume that Yada's sales are collected as follows:
(Click the icon to view the collections.)
November sales totaled $310,000, and December sales were $340,000. Prepare a schedule of cash receipts from customers for January and February, including the calculation for the Net Accounts
Receivable balance on February 28. Round answers to the nearest dollar. (If an input field is not used in the table leave the input field empty; do not enter a zero.)
Prepare a schedule of cash receipts from customers for January and February. (If an input field is not used in the table leave the input field empty, do not enter a zero.)
Cash Receipts from Customers
Total sales
Cash Receipts from Customers:
January
February
January
February
Nov-Credit sales, collection of Nov. sales in Jan.
Dec-Credit sales, collection of Dec. sales in Jan.
Dec-Credit sales, collection of Dec. sales in Feb.
Jan-Credit sales, collection of Jan. sales in Jan.
Jan-Credit sales, collection of Jan. sales in Feb.
Feb-Credit sales, collection of Feb. sales in Feb.
Total cash receipts from customers
More info
80% in the month of the sale
10% in the month after the sale
6% two months after the sales
4% never collected
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