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Calculate the receipts from accounts receivable for June

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Question - From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and Aug 2016:

 

Actual

 

April

May

Credit sales

168000

176000

 

Estimated

 

June

July

Credit sales

186000

164000

Credit sales are normally settled according to the following pattern: 60 per cent in the month following sale, and 35 percent in the second month following the sale. Five percent of accounts are never settled.

Reference no: EM132669990

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