etakeAssignmentSessionLo... Assignment 6d: Chapter 22 Exercises еВook Print Item Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $106,000 November 133,000 December 194,000 The Accounts Receivable balance on September 30 was $71,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. Office World Inc. Schedule of Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected in November Collected in December December sales on account: Collected in December Total cash receipts Check My Work Previous Next 00
etakeAssignmentSessionLo... Assignment 6d: Chapter 22 Exercises еВook Print Item Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $106,000 November 133,000 December 194,000 The Accounts Receivable balance on September 30 was $71,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. Office World Inc. Schedule of Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected in November Collected in December December sales on account: Collected in December Total cash receipts Check My Work Previous Next 00
Chapter1: Financial Statements And Business Decisions
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Assignment 6d: Chapter 22 Exercises
eBook
Print Item
Schedule of Cash Collections of Accounts Receivable
Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit
customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales
for the next three months are as follows:
October
$106,000
November
133,000
December
194,000
The Accounts Receivable balance on September 30 was $71,000.
Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.
Office World Inc.
Schedule of Collections from Sales
For the Three Months Ending December 31
October
November December
Receipts from cash sales:
Cash sales
September sales on account:
Collected in October
October sales on account:
Collected in October
Collected in November
November sales on account:
Collected in November
Collected in December
December sales on account:
Collected in December
Total cash receipts
Check My Work
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