2. A Sendai clothing wholesaler was preparing its sales budgetfor the first quarter of 20X8. Forecast sales are as follows (Allvalues are in thousands of yen).
January
Â¥203,000
February
Â¥227,000
March
Â¥248,000
a) Sales are 40% cash and 60% on credit. Fifty-five percent ofthe credit accounts are collected in the month of sale, 35% in themonth following the sale, and 10% in the following month. Nouncollectible accounts are anticipated. Accounts receivable at thebeginning of 20X8 are ¥82,950 (10% of November credit sales of¥150,000 and 45% of December credit sales of ¥151,000).
b) Prepare a schedule showing sales and cash collections forJanuary, February, and March, 20X8.
2. A Sendai clothing wholesaler was preparing its sales budgetfor the first quarter of 20X8. Forecast sales are as follows (Allvalues are in thousands of yen).
January | ¥203,000 |
February | ¥227,000 |
March | ¥248,000 |
a) Sales are 40% cash and 60% on credit. Fifty-five percent ofthe credit accounts are collected in the month of sale, 35% in themonth following the sale, and 10% in the following month. Nouncollectible accounts are anticipated. Accounts receivable at thebeginning of 20X8 are ¥82,950 (10% of November credit sales of¥150,000 and 45% of December credit sales of ¥151,000).
b) Prepare a schedule showing sales and cash collections forJanuary, February, and March, 20X8.
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2. A Sendai clothing wholesaler was preparing its sales budgetfor the first quarter of 20X8. Forecast sales are as follows (Allvalues are in thousands of yen).
January | ¥203,000 |
February | ¥227,000 |
March | ¥248,000 |
a) Sales are 40% cash and 60% on credit. Fifty-five percent ofthe credit accounts are collected in the month of sale, 35% in themonth following the sale, and 10% in the following month. Nouncollectible accounts are anticipated. Accounts receivable at thebeginning of 20X8 are ¥82,950 (10% of November credit sales of¥150,000 and 45% of December credit sales of ¥151,000).
b) Prepare a schedule showing sales and cash collections forJanuary, February, and March, 20X8.
hello
This is third time am posting this question none of them gave meproper solutions for A & B.
while posting please mention A & B . and give a properexplanation so that even I could understand thank you .
