16. Camen Company projects the following?sales:JanuaryFebruaryMarchCash sales (45%)$12,150$13,500$14,400...16. Camen Company projects the following?sales:JanuaryFebruaryMarchCash sales...

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Accounting

16. Camen Company projects the following?sales:
January
February
March
Cash sales (45%)
$12,150
$13,500
$14,400
Sales on account (55%)
14,850
16,500
17,600
Total sales
$27,000
$30,000
$32,000
Camen collects sales on account in the month after the sale. TheAccounts Receivable balance on January 1 is $13,100?, whichrepresents December?'s sales on account. Camen projects thefollowing cash receipts from? customers:
January
February
March
Cash receipts from cashsales
$12,150
$13,500
$14,400
Cash receipts from sales onaccount
13,100
14,850
16,500
Total cash receipts fromcustomers
$25,250
$28,350
30,900
Recalculate cash receipts from customers if total sales remainthe same but cash sales are only 25?% of the total.Begin bycomputing the cash sales and sales on account for each month ifcash sales are only 25?% of the total.
January
February
March
Cash sales (25%)
Sales on account (75%)
Total sales
$27,000
$30,000
$32,000
?Now, recalculate cash receipts from customers for each month ifcash sales are only 25?%
of the total.
January
February
March
Cash receipts from cash sales
Cash receipts from sales on account
Total cash receipts from customers
Enter any number in the edit fields and then continue to thenext question.

Answer & Explanation Solved by verified expert

3.8 Ratings (729 Votes)

a.
	Calculation of Cash sales and Sales on Account

		January	February	March
Cash Sales (25%)		$ 6,750	$ 7,500	$ 8,000
Sales on account (75%)		$ 20,250	$ 22,500	$ 24,000

Total Sales		$ 27,000	$ 30,000	$ 32,000

b.
	Cash receipts from Customer

			January	February	March
	Cash receipts from cash sales		$ 6,750	$ 7,500	$ 8,000
	Cash receipts from sales on account		$ 13,100	$ 20,250	$ 22,500

	Total cash receipts from customers		$ 19,850	$ 27,750	$ 30,500

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In: Accounting16. Camen Company projects the following?sales:JanuaryFebruaryMarchCash sales (45%)$12,150$13,500$14,400...16. Camen Company projects the following?sales:JanuaryFebruaryMarchCash sales (45%)$12,150$13,500$14,400Sales on account (55%)14,85016,50017,600Total sales$27,000$30,000$32,000Camen collects sales on account in the month after the sale. TheAccounts Receivable balance on January 1 is $13,100?, whichrepresents December?'s sales on account. Camen projects thefollowing cash receipts from? customers:JanuaryFebruaryMarchCash receipts from cashsales$12,150$13,500$14,400Cash receipts from sales onaccount13,10014,85016,500Total cash receipts fromcustomers$25,250$28,35030,900Recalculate cash receipts from customers if total sales remainthe same but cash sales are only 25?% of the total.Begin bycomputing the cash sales and sales on account for each month ifcash sales are only 25?% of the total.JanuaryFebruaryMarchCash sales (25%)Sales on account (75%)Total sales$27,000$30,000$32,000?Now, recalculate cash receipts from customers for each month ifcash sales are only 25?%of the total.JanuaryFebruaryMarchCash receipts from cash salesCash receipts from sales on accountTotal cash receipts from customersEnter any number in the edit fields and then continue to thenext question.

	January	February	March
Cash sales (25%)
Sales on account (75%)
Total sales	$27,000	$30,000	$32,000