Kailua and Company is a legal services firm. All sales of legal services are billed to the client (there are no cash sales). Kailua expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next 5 months, the following sales billings are expected: May $84,000 June 100,800 July 77,000 August 87,800 September 93,000 Required: Prepare a schedule showing the cash expected in payments on accounts receivable in August and in September. If an amount box does not require an entry, leave it blank or enter "0". Be sure to enter percentages as whole numbers. Kailua and Company Schedule         August   September June:             $fill in the blank 1 × fill in the blank 2 %       $fill in the blank 3   $fill in the blank 4 July:             $fill in the blank 5 × fill in the blank 6 %       fill in the blank 7     $fill in the blank 8 × fill in the blank 9 %           fill in the blank 10 August:             $fill in the blank 11 × fill in the blank 12 %       fill in the blank 13     $fill in the blank 14 × fill in the blank 15 %           fill in the blank 16 September:             $fill in the blank 17 × fill in the blank 18 %       fill in the blank 19   fill in the blank 20 Total cash receipts

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.