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Ivanhoe Industries expects credit sales for January, February, and March to be $ 191,500, $...

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Accounting

Ivanhoe Industries expects credit sales for January, February, and March to be $ 191,500, $ 257,000, and $ 298,700, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Calculate cash collections from customers for each month.

IVANHOE INDUSTRIES Schedule of Expected Collections

Collections by Month

Sales

Jan

Feb

Mar

Total

January

 $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount

February

 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

March

 enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Total Collections

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