Office world inc has cash and carry customers and credit

Assignment Help Accounting Basics

Reference no: EM13566887

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2012 are as follows: August $131,000 September 164,000 October 240,000 The Accounts Receivable balance on July 31, 2012, was $88,000. Prepare a schedule of cash collections from sales for August, September, and October. Enter all amounts as positive numbers.

Reference no: EM13566887

Questions Cloud

Exeter corporation has recently begun a continuous : exeter corporation has recently begun a continuous improvement campaign. as a consequence there have been many changes

Intermountain delivery company acquired an adjacent lot to : determining cost of landintermountain delivery company acquired an adjacent lot to construct a new warehouse paying

Gruden company produces golf discs which it normally sells : gruden company produces golf discs which it normally sells to retailers for 7.09 each. the cost of manufacturing 18600

One of the first prison systems was called the pennsylvania : one of the first prison systems was called the pennsylvania system. the ideology of this system was used in the eastern

Office world inc has cash and carry customers and credit : office world inc. has cash and carry customers and credit customers. office world estimates that 25 of monthly sales

The topic of discussion is your own assessment of your : i prefer the essay be from three paragraphs which are introduction body and conclusionthe assignment itself is to write

Data from the income statement of dray company for the : data from the income statement of dray company for the current fiscal year ended on december 31st and are presented

A five-year project has an initial fixed asset investment : a five-year project has an initial fixed asset investment of 295000 an initial nwc investment of 27000 and an annual

Reading selection from swifts a modest proposal swift : choose one 1 of the three reading selections from the list of topic choices below. read the selection in the textbook.

User Account

All Pages