Victoria's Apparel has forecast credit sales for the 4th Quarter as:
September (actual) $50,000
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
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 ...
The solution explains how to prepare a schedule of cash collections for Victoria Apparel.