Please help me to solve this. ..................................................Q1....................... Q2.......................... Q3.......................... Q4............................ Year Units sold .............................24,000....................
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Accounting
Please help me to solve this.
..................................................Q1....................... Q2.......................... Q3.......................... Q4............................ Year Units sold .............................24,000................. 31,000.................... 28,000.................... 35,000........................ 118,000
The company expects to sell its goods for $120 per unit.
Cash Collections Budget Continuing with the same example, XYZ Corporation expects to collect 70% of sales in the quarter of the sale, and 30% in the quarter following the sale. The companys beginning accounts receivable was $540,000, all of which was expected to be collected in the first quarter. Required: Prepare a schedule of expected cash collections for the year. Also, calculate the ending accounts receivable.
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