Answers
January | February | March | April | ||
Total sales | 3860000 | 4160000 | 3960000 | 4360000 | |
Cash sales | $ 11,58,000 | $ 12,48,000 | $ 11,88,000 | $ 13,08,000 | |
Sales on account | $ 27,02,000 | $ 29,12,000 | $ 27,72,000 | $ 30,52,000 | |
January | February | March | April | ||
Receipts from Cash Sales | $ 11,58,000 | $ 12,48,000 | $ 11,88,000 | $ 13,08,000 | |
Add: | Receipts from sales on account | ||||
In the month of sale | $ 10,80,800 | $ 11,64,800 | $ 11,08,800 | $ 12,20,800 | |
In the following month of sale | $ 15,67,160 | $ 16,88,960 | $ 16,07,760 | ||
Total cash receipts collected | $ 22,38,800 | $ 39,79,960 | $ 39,85,760 | $ 41,36,560 | |
Total cash receipts collected in the month of April | = | $ 41,36,560 | |||
Collections on account | = | ($3052000 X 58%) | $ 17,70,160 | ||
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