Watt’s Lighting Stores made the following sales projection for the next six months. All sales are...
Watt’s Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March $35,000 April 41,000 May 30,000 June 39,000 July 47,000 August 49,000 Sales in January and February were $38,000 and $37,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August.
Homework Answers
| January | February | March | April | May | June | July | August | |
| Credit sales | 38000 | 37000 | 35000 | 41000 | 30000 | 39000 | 47000 | 49000 |
| In the month of sale (30%) | 10500 | 12300 | 9000 | 11700 | 14100 | 14700 | ||
| One month after sale (40%) | 14000 | 16400 | 12000 | 15600 | 18800 | 19600 | ||
| Two month after sale (20%) | 7000 | 8200 | 6000 | 7800 | 9400 | 9800 | ||
| Total cash receipts | 31500 | 36900 | 27000 | 35100 | 42300 | 44100 |
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Watt’s Lighting Stores made the following sales projection for
the next six months. All sales are...
Watt's Lighting Stores made the following sales projection for the next six months. All sales are...
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales March $46,000 June $50,000 April 52,000 July 58,000 May 41,000 August 60,000 Sales in January and February were $49,000 and $48,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 25 percent are collected in the month of sale, 35 percent are collected in the following month, and 30 percent are collected two months after sale. a. Prepare a...
Watt's Lighting stores made the following sales projection: Watt's Lighting Stores made the following sales projection...
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Laura's Decor Stores made the following sales projection for the next six months. All sales are...
Laura's Decor Stores made the following sales projection for the
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sales in january and february were $41,000 and $40,000
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next six months. All sales are credit sales.
march 38,000
April 44,000
may 33,000
june 42,000
july 50,000
august 52,000
sales in january and february were $41,000 and $40,000
respectively
experience has shown that total sales, 10% are uncollectible,
35% are collected in the month of sale, 45 percent are collected in
the following month and 10 percent are collected two months after
sale.
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