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Category > Management Posted 31 Jan 2018 My Price 6.00

Pet Place Supplies Inc

Schedule of cash collections of accounts receivable

 

Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1, 2016. Projected sales for each of the first three months of operations are as follows:

 

 

 

May

$134,000

June

155,000

July

169,000

 

All sales are on account. Sixty-five percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the   sale.

 

Prepare a schedule indicating cash collections from sales for May, June, and July.

 

Answers

(5)
Status NEW Posted 31 Jan 2018 12:01 AM My Price 6.00

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