Outdoorsies expects total sales of $698,000 for January and $347,000 for February. November sales totaled $393,000 and December sales were $395,000. Now assurme that Outdoorsies's salės are Collected aS TUlIUWS 50% in the month of the sale 40% in the month after the sale The folowing schedule of cash receipts for January and February was prepared based upon the collection history given: i (Click the icon to view the collection history.) 5% two months after the sale 5% never collected (Click the icon to view the schedule of cash receipts.) Prepare a revised schedule of cash receipts for January and February. (If an input field is not used in the table leave the input field empty: do not enter a zero.) More Info Cash Receipts from Customers January February Total sales 60% in the month of the sale January February 30% in the month after the sale Cash Receipts from Customers: 6% two months after the sale 4% never collected 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. Print Done 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
Outdoorsies expects total sales of $698,000 for January and $347,000 for February. November sales totaled $393,000 and December sales were $395,000. Now assurme that Outdoorsies's salės are Collected aS TUlIUWS 50% in the month of the sale 40% in the month after the sale The folowing schedule of cash receipts for January and February was prepared based upon the collection history given: i (Click the icon to view the collection history.) 5% two months after the sale 5% never collected (Click the icon to view the schedule of cash receipts.) Prepare a revised schedule of cash receipts for January and February. (If an input field is not used in the table leave the input field empty: do not enter a zero.) More Info Cash Receipts from Customers January February Total sales 60% in the month of the sale January February 30% in the month after the sale Cash Receipts from Customers: 6% two months after the sale 4% never collected 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. Print Done 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Cash Receipts from Customers
January
February
698,000 $
347,000
Total sales
January
February
Cash Receipts from Customers:
Nov.-Credit sales, collection of Nov. sales in Jan.
$4
23,580
Dec.-Credit sales, collection of Dec. sales in Jan.
118,500
Dec.-Credit sales, collection of Dec. sales in Feb.
$4
23,700
Jan.-Credit sales, collection of Jan. sales in Jan.
418,800
Jan.-Credit sales, collection of Jan. sales in Feb.
209,400
Feb.-Credit sales, collection
Feb. sales in Feb.
208,200
$560,8804
441,300
Total cash receipts from customers
Transcribed Image Text:Now assume that Outdoorsies's sales are collected as follows:
Outdoorsies expects total sales of $698,000 for January and $347,000 for
February. November sales totaled $393,000 and December sales were
$395,000.
50% in the month of the sale
40% in the month after the sale
The following schedule of cash receipts for January and February was
prepared based upon the collection history given:
A (Click the icon to view the collection history.)
5% two months after the sale
5% never collected
(Click the icon to view the schedule of cash receipts.)
Prepare a revised schedule of cash receipts for January and February
(If an input field is not used in the table leave the input field empty: do not enter a zero.)
More Info
Cash Receipts from Customers
January
February
Total sales
60% in the month of the sale
January
February
30% in the month after the sale
Cash Receipts from Customers:
6% two months after the sale
4% never collected
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.
Print
Done
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
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