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 > Accounting Posted 06 Aug 2017 My Price 5.00

Acoustic Sales

From the following data for Acoustic Sales, calculate the receipts from accounts receivable for September, October and November of 2016.

    Actual   Estimated  
    July   August   September   October   November  
Credit sales   $112,000   $94,000   $99,000   $111,000   $94,000  


Credit sales are normally settled according to the following pattern: 20 per cent in the month of the sale, 50 per cent in the month following the sale, and the remainder in the second month following the sale.

    September   October   November  
Receipts from accounts receivable   $   $   $

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 10:08 PM My Price 5.00

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