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    Abbeysgg's Avatar
    Abbeysgg Posts: 2, Reputation: 1
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    #1

    May 10, 2009, 11:02 PM
    Monthly schedule on credit sales
    90% of Sales are on credit with 60% of AR collected in the month after the sale and rest collected in the second month after the sale. Feb sales were $60,000 with March at $70,000. April at $75,000, May at $95,000 and June at $110,000. These are the only figures I know are correct so far. Bad debt % is 0. What are cash receipts for April-June. And what is the balance of Receivables at the end of June?
    :confused:
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    May 11, 2009, 06:24 AM

    APR MAY JUN

    SALES 75,000 95,000 110,000

    CREDIT SALES @ .9 67,500 85,500 99,000
    CASH SALES @ .1 7,500 9,500 11,000

    TOTAL SALES 75,000 95,000 110,000

    COLLECTIONS

    SAME MONTH @ .6 40,500 51,300 59,400
    MONTH AFTER @ .4 25,200 27,000 34,200
    CASH SALES @ .1 7,500 9,500 11,000

    TOTAL COLLECTIONS 73,200 87,800 104,600

    CASH RECEIPTS APR - JUN 265,600

    Balance of Receivables at the end of June 39,600
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