20% of its merchandise is sold to cash customers
80% will be sold on account
Of the 80% sold on account, 33% is expected to be collected during rhe month of sale and the remaining 67% will be collected the month following the sale.
Based on this, the Schedule of Cash Collections for the first month of operations should show an estimate of $______ for TOTAL CASH collected in that month© BrainMass Inc. brainmass.com June 3, 2020, 10:39 pm ad1c9bdddf
Total cash collected would be
Cash sales = 468,311X20% = ...
The solution explains how to prepare a schedule of cash collections for the current case study.