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Compute a schedule of cash receipts for four-month period

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Reference no: EM132790847

Parker Company has forecast its sales as follows:

November $190,000(actual)

December $240,000(actual)

January $280,000

February $300,000

March $350,000

April $320,000

Parker has experienced collections of 55% during the month of sale, 38% the month after the sale, and 7% the second month after the sale.

Required:

Problem a. compute a schedule of cash receipts for the 4-month period January - April.

Problem b. What will the Accounts Receivable balance be on April 30?

Reference no: EM132790847

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