Homework Answers
Expected cash receipts from sales for the quarter ended June 30
| April | May | June | |
| February sales | |||
| Credit sales (75,000×0.8×0.05) | $3,000 | ||
| March Sales | |||
|
Credit sales (90,000×0.8×0.30) (90,000×0.8×0.05) |
$21,600 - |
- $3,600 |
|
| April sales | |||
|
Credit sales (80,000×0.8×0.60) (80,000×0.8×0.30) (80,000×0.8×0.05) |
$38,400 - - |
- $19,200 - |
- - $3,200 |
| Cash sales(80,000×0.20) | $16,000 | ||
| May sales | |||
|
Credit sales(60,000×0.80×0.60) (60,000×0.80×0.30) |
$28,800 - |
- $14,400 |
|
| Cash sales(60,000×0.20) | $12,000 | ||
| June sales | |||
| Credit sales(35,000×0.80×0.60) | $16,800 | ||
| Cash sales(35,000×0.20) | $7,000 | ||
| Total cash receipts | $79,000 | $63,600 | $41,400 |
____×____
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