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J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September $ 55,000...

Question

J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September $ 55,000...

J.Los Clothiers has forecast credit sales for the fourth quarter of the year: September $ 55,000 (actual) Fourth Quarter Oct

J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September $ 55,000 (actual) Fourth Quarter October $ 45,000 November 40,000 December 65,000 Experience has shown that 35 percent of sales are collected in the month of sale, 55 percent are collected in the following month, and 10 percent are never collected Prepare a schedule of cash receipts for J.Lo's Clothiers covering the fourth quarter (October through December). J. Lo's Clothiers September October November December Credit sales In month of sales One month after sales Total cash receipts

Answers

Schedule of cash receipts
Sep Oct Nov Dec
Credit Sales        55,000        45,000        40,000        65,000
In Month of Sale        15,750        14,000        22,750
One month after sales        30,250        24,750        22,000
Total Cash Receipts        46,000        38,750        44,750

в 1 Schedule of cash receipts 2 Sep 55000 3 Credit Sales 4 In Month of Sale 5 One month after sales 6 Total Cash Receipts Oct


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