Prepare a schedule of cash receipts for jayson for january

Reference no: EM131883426

Problem

Jayson Company projects the following sales for the first three months of the year: $13, 500 in January; $11, 600 in February; and $12, 800 in March. The company expects 80% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar.

Requirement

Prepare a schedule of cash receipts for Jayson for January. February, and March. What is the balance in Accounts Receivable on March 31?

Reference no: EM131883426

Questions Cloud

Compute the ending after-tax account value : $1000 is invested for 20 years at a pretax return of 10%. Assume return is subject to a deferred capital gain tax of 30%. The cost basis is $800.

How realism or impressionism influenced the work : Give an example from any discipline in the humanities to illustrate how realism or impressionism influenced the work of art.

How far can a company go to protect interests : Zoey overhears Hector on the phone say, "OK, 30,000 ski parkas at $80 per parka. You've got yourself a deal. Thanks a lot."

Examine the balance sheets for the two years : Acquired an additional $24,000 from the issue of common stock. Examine the balance sheets for the two years. How did assets change from 2012 to 2013

Prepare a schedule of cash receipts for jayson for january : Prepare a schedule of cash receipts for Jayson for January. February, and March. What is the balance in Accounts Receivable on March 31?

Significant impact on life : Describe an interaction you've had with a stranger that left a significant impact on your life

Review the given case and examine who should win : Continental Illinois National Bank issued an irrevocable letter of credit on behalf of Bill's Coal Company for $805,000, with the Allied Fidelity Insurance Co.

Differences between popular and scholarly sources : What are at least five differences between popular and scholarly sources used in research?

Doing a new research project : Why do researchers spend so much time and effort reviewing scholarly and professional literature when doing a new research project?

User Account

All Pages