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Schedule of cash receipts from customers

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Reference no: EM132104930

Preparing a financial budget-----I am completely stuck on a question. Please help. They are wanting this is a schedule of receipts format. Any assistance would be great.

Yeaman expects total sales of $330,000 in January and $407,000 in February, Assume that Yeaman's sales are collected as follows:

60% in the month of sale

30% in the month after sale

8% two months after the sale

2% never collected

November sales totaled $260,000, and December sales were $330,000. They want this in a schedule of cash receipts from customers for January and February. Round answers to the nearest dollar.

Reference no: EM132104930

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