Problem 14-16 A. Sales on account- Jan.? Feb.? March ? Total-? B. Sales revenue

Question

Problem 14-16 A. Sales on account- Jan.? Feb.? March ? Total-? B. Sales revenue for the quarter is equal to the sum of the monthly amounts=? C. Schedule of cash receipts Jan Feb March Receipts from jan. sales ? Receipts from Jan. Sales ? Receipts from Jan. sales ? Receipts from Feb. ssales ? Receipts from Feb. sales ? Receipts of from March sales ? Total ? ? ? D. Schedule of cash receipts Jan. Feb. March April May receipts from Jan. sales ? receipts from Jan. sales ? receipts from Jan. sales ? receipts from Feb. sales ? receipts from Feb. sales ? receipts from Feb. sales ? receipts from march sales ? receipts from march sales ? receipts from march sales ? Total ? ? ? ? ? The accounts receivable as of March 31, 2012 is equal to the amount due to be collected in april and may from the first quarter sales=???

Explanation / Answer

I worked in excel, if you want, I can email you the excel file.

Sales Jan 2012     200,000 Feb 2012     220,000 Mar 2012     242,000 Collection Jan 2012     140,000 140,000 Feb 2012       40,000       154,000 194,000 Mar 2012       20,000        44,000 169,400 233,400     200,000       198,000 169,400 567,400 Apr 2012        22,000     48,400     70,400 May 2012     24,200     24,200     200,000       220,000 242,000 662,000

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