Build_a_Spreadsheet_09_23

Build_a_Spreadsheet_09_23 - x 0.15 12,000 October 90,000 x...

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DATA INPUT Budgeted Sales on Account: Collection Schedule: June $49,000 In month of sale 70 % July 60,000 In 1st month after sale 15 % August 70,000 In 2nd month after sale 10 % September 80,000 In 3rd month after sale 4 % October 90,000 Uncollectible 1 % November 100,000 December 85,000 SOLUTION 1. Cash collections in October: Month Amount Collected in October of Sale Sales % Collected Collection July $60,000.00 x 0.04 2,400 August 70,000 x 0.10 7,000 September 80,000
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Unformatted text preview: x 0.15 12,000 October 90,000 x 0.70 63,000 Total 84,400 2. Cash collections in 4th quarter from credit sales in 4th quarter: Amount Collected Credit Month of Sale Sales October November December October $90,000 $63,000 $13,500 $9,000 November 100,000 70,000 15,000 December 85,000 59,500 Total $63,000 $83,500 $83,500 Total collections in 4th quarter from credit sales in 4th quarter $230,000...
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This note was uploaded on 02/29/2012 for the course E 101 taught by Professor Sfere during the Spring '12 term at Abilene Christian University.

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