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Ellis sport shop projects the following sales April

Resolved Question:

Ellis sport shop projects the following sales:

April May June

75,000 95,000 110,000

ninety percent of ellis sales are on credit with 60 percent of recieveables collected in the month after sale and the rest of recieveables collected in the 2nd month after the sale. feb sales were 60,000 march sales were 70,000. In the past ellis bad debt percentage has been 0 and is expected to continue.
1. Prepare a monthly schedule of cash receipts for april-june.
2. what is the balance of receivables at the end of june.
Submitted: 7 years ago.
Category: Homework
Expert:  Linda_us replied 7 years ago.
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