The actual sales for Dynamic Duo Limited for October 2020 and the forecasted sales for...
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The actual sales for Dynamic Duo Limited for October 2020 and the forecasted sales for November and December 2020 and January, February and March 2021 are as follows: October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 700 000 720 000 750 000 780 000 800 000 820 000 In the past 80% of all sales were on credit and Dynamic Duo Limited expect this trend to continue in the future. The company expects an average of 5% bad debts. Cash is received from credit sales as follows: 40 % in the first month following sale 30 % in the second month following sale 25 % in the third month following sale Complete the following table showing the receivables collection schedule for January 2021 (No Rand signs, no spaces, no cents, no negative signs, no blanks - use a 0 if no cash inflow) Receivables collection schedule for January 2021 October 2020 sales November 2020 sales December 2020 sales January 2021 sales
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