Shalom Company expects credit sales for April, May, and June to be P200,000, P260,000, and P300,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Amounts must be in whole numbers. Example: 88,000 or (88,000) Calculate cash collections from customers for each month. MAY

Shalom Company expects credit sales for April, May, and June to be P200,000, P260,000, and P300,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Amounts must be in whole numbers. Example: 88,000 or (88,000) Calculate cash collections from customers for each month. MAY

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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