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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 3 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The LaPann Company has obtained the following sales forecast data: Cash Sales Credit Sales July $80,000 $240,000 August $70,000 $220,000 September $50,000 $180,000 October $60,000 $200,000 November $65,000 $210,000 The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. Required: a. Prepare a schedule for the three months (Sept – Nov) showing cash receipts for LaPann b. Calculate the Accounts Receivable balance for November 30th
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