Jessica has experienced collections 40 during the month of

Reference no: EM13588814

Jessica Company has forecast its sales as follows:

August $180,000 (actual)
September 280,000 (actual)
October 360,000
November 400000
December 450,000

Jessica has experienced collections 40% during the month of sale, 50% the month after the sale, and 10% the second month after the sale.
Required:
a. Prepare a schedule of cash receipts for the 3 month period October - December.
b. What will the Accounts Receivable balance be on December 31?

Reference no: EM13588814

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