Prepare a schedule of cash receipts for August

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Question - Harvard Pty Ltd sells all its product on account, it 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 25

Harvard's anticipated sales for the next few months are as follows:

April $200,000

May 250,000

June 270,000

July 230,000

August 390,000

Required -

a. Prepare a schedule of cash receipts for June.

b. Prepare a schedule of cash receipts for July.

c. Prepare a schedule of cash receipts for August.

Reference no: EM133013591

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