HMWK problem
Rich Company’s experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate items (1) through (10) below: (if you click on the graph twice, you can type into it)
OCTOBER NOVEMBER
(1)Receipts from cash sales(1) ________(6) ________
(2)Collections from August credit sales(2) ________(7) ________
(3)Collections from September credit sales(3) ________(8) ________
(4)Collections from October credit sales(4) ________(9) ________
(5)Total cash collections during the month(5) ________(10) _______
Sheet1
OCTOBER NOVEMBER
(1) Receipts from cash sales (1) ________ (6) ________
(2) Collections from August credit sales (2) ________ (7) ________
(3) Collections from September credit sales (3) ________ (8) ________
(4) Collections from October credit sales (4) ________ (9) ________
(5) Total cash collections during the month (5) ________ (10) _______
Sheet2
Sheet3
