Solution-How much will still be uncollected at the end of

How much will still be uncollected at the end of august

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Reference no: EM132554611

Ed's Waterbeds has made the following sales projections for the next six months. All sales are credit sales.

March$34,000 June $38,000 April 40,000 July 46,000 May 29,000 August 48,000

Sales in January and February were $37,000 and $36,000 respectively.

Experience has shown that 5 percent of total sales are uncollectible, 40 percent are collected in the month of sale, 50 percent are collected in the following month, and 5 percent are collected two months after sale.

Question a. Prepare monthly cash receipts schedule for the firm for March through August.

Question b. Of the sales expected to be made during the six months from March to August, how much will still be uncollected at the end of August? How much of this is expected to be collected later?

Reference no: EM132554611

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How much will still be uncollected at the end of august

Reference no: EM132554611

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