Fitbands' estimated sales are: Oct. $131,973 Nov. 195,705 Dec. 249,291 Jan 124,298 Feb. 124,306 Mar. 124,365 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Fitbands' estimated sales are:
Ot.
$131,973
Nov.
195,705
Dec.
249,291
Jan
124,298
Feb.
124,306
Mar.
124,365
What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale,
and 10% is second month after the sale? Round your answers to two decimal places.
Ending Balance
January
February
March
Transcribed Image Text:Fitbands' estimated sales are: Ot. $131,973 Nov. 195,705 Dec. 249,291 Jan 124,298 Feb. 124,306 Mar. 124,365 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March
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