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J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September (actual) October November December Credit sales Experience has shown that 15 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 20 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). Collections: In month of sales One month after sales $ 51,000 $ 41,000 Total cash receipts 36,000 61,000 J. Lo's Clothiers September October November December

J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September (actual) October November December Credit sales Experience has shown that 15 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 20 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). Collections: In month of sales One month after sales $ 51,000 $ 41,000 Total cash receipts 36,000 61,000 J. Lo's Clothiers September October November December

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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work i Problem 4-17 (Algo) Schedule of cash receipts [LO4-2] J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: BI 5 W September (actual) October November December F2 Experience has shown that 15 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 20 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). Credit sales Collections: In month of sales One month after sales Total cash receipts Fourth Quarter A+ #♡ 3 E LUI F3 O X S 4 F4 R $ 51,000 $ 41,000 36,000 61,000 LL *- J. Lo's Clothiers September 5 F5 % |V T + G F6 ( October Q Search Y B F7 & 7 H November < Prev ✈ FB U N * 00 8 Saved J December 5 of 9 Service F9 1 ‒‒‒ MO K M Next > F10 F11 28 L F12 P Y'S: V Insert + 11 ( t €
Transcribed Image Text:work i Problem 4-17 (Algo) Schedule of cash receipts [LO4-2] J.Lo's Clothiers has forecast credit sales for the fourth quarter of the year: BI 5 W September (actual) October November December F2 Experience has shown that 15 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 20 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). Credit sales Collections: In month of sales One month after sales Total cash receipts Fourth Quarter A+ #♡ 3 E LUI F3 O X S 4 F4 R $ 51,000 $ 41,000 36,000 61,000 LL *- J. Lo's Clothiers September 5 F5 % |V T + G F6 ( October Q Search Y B F7 & 7 H November < Prev ✈ FB U N * 00 8 Saved J December 5 of 9 Service F9 1 ‒‒‒ MO K M Next > F10 F11 28 L F12 P Y'S: V Insert + 11 ( t €
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