Explore BrainMass

Explore BrainMass

    Schedule of Cash Collection

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Victoria's Apparel has forecast credit sales for the 4th Quarter as:
    September (actual) $50,000
    4th Quarter
    October (forecast) 40,000
    November (forecast) 35,000
    December (forecast) 60,000

    Experience has shown that 20% of credit sales are collected in the month of the sale, 70% is collected the following month, and 10% are never collected. Prepare a schedule of cash receipts for Victoria's Apparel for the 4th quarter.

    © BrainMass Inc. brainmass.com June 3, 2020, 9:45 pm ad1c9bdddf

    Solution Preview

    Please see the attached file

    Month Sept Oct Nov Dec
    Sales 50,000 40,000 35,000 60,000

    In a schedule of cash receipts we show the ...

    Solution Summary

    The solution explains how to prepare a schedule of cash collections for Victoria Apparel.