Office world inc has cash and carry customers and credit

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

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