Crowley Company projects the following sales: EE(Click on the icon to view the projected sales).
Crowley collects sales on account in the month after the sale. The Accounts Receivable balance on 1 is, which represents 's sales on account. Crowley projects the following cash receipts from customers:
Re-calculate cash receipts from customers if total sales remain the same but cash sales are only 20% of the total.
January February March
Cash sales (20 %)
Sales on account (80%)
Total sales $20,000 $22.000 $24,00
January February March
Cash sales (25%) 5,000 5,000 $6,000
Sales on account (75%) $15,500 16,000 18,000
Total sales 20,000 $ 22,000 $ 24,000
Now, recalculate cash receipts from customers for each month if cash sales are only 20 % of the total.
January February March
Cash receipts from cash sales 5,500 5,000 $6,000
Cash receipts from sales on account 13,500 15,000 16.500
Total cash receipts from customers 18,500 $20,500 $22,500
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Crowley Company projects the following sales: EE(Click on the icon to view the projected sales).
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