Solution-Make a schedule of cash receipts for august

Make a schedule of cash receipts for august

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Reference no: EM132747146

Question - Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience:

Percent paid in the month of sale 20

Percent paid in the month after the sale 55

Percent paid in the second month after the sale 23

To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows:

April $256,500

May 334,800

June 351,000

July 324,000

August 405,000

Required -

1. Make a schedule of cash receipts for July. Be sure to enter percentages as whole numbers.

2. Make a schedule of cash receipts for August. Be sure to enter percentages as whole numbers.

Reference no: EM132747146

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Make a schedule of cash receipts for august

Reference no: EM132747146

Reference no: EM132747146

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