Ellis Sport Shop projects the following sales: April May June $75,000 $95,000 $110,000 Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000. In the past Ellis' bad debt percentage has been 0 and is expected to continue. Prepare a monthly schedule of cash receipts for April-June. (Can you show the excel formulas used so then I can do it myself please.) What is the balance of Receivables at the end of June? (Can you show the excel formulas used so then I can do it myself please.)
Ellis Sport Shop projects the following sales: April May June $75,000 $95,000 $110,000 Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000. In the past Ellis' bad debt percentage has been 0 and is expected to continue. Prepare a monthly schedule of cash receipts for April-June. (Can you show the excel formulas used so then I can do it myself please.) What is the balance of Receivables at the end of June? (Can you show the excel formulas used so then I can do it myself please.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Ellis Sport Shop projects the following sales:
|
April |
May |
June |
|
$75,000 |
$95,000 |
$110,000 |
Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000. In the past Ellis'
- Prepare a monthly schedule of cash receipts for April-June.
- (Can you show the excel formulas used so then I can do it myself please.)
- What is the balance of Receivables at the end of June?
- (Can you show the excel formulas used so then I can do it myself please.)
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