Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 22 Feb 2018 My Price 5.00

Innovative Office Inc

Innovative Office Inc. has “cash and carry” customers and credit customers. Innovative Office estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 75% pay their accounts in the month of sale, while the remaining 25% pay their accounts in the month following the month of sale. Projected sales for the first three months of 2013 are as follows:

The Accounts Receivable balance on December 31, 2012, was $180,000.

Prepare a schedule of cash collections from sales for January, February, and March.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Feb 2018 08:02 PM My Price 5.00

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