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Prepare a schedule of cash receipts for j lo clothiers

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Reference no: EM132957107

J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year:

Experience has shown that 30 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 5 percent are never collected.

Problem 1: Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December).

Reference no: EM132957107

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