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3 years ago

Forward Company makes all its sales on account. Forward's accounts receivable payment experience is as follows:

Business

1 answer:

8090 [49]3 years ago

4 0

Answer:

The expected cash receipts in the month of November are $160,600

Explanation:

Expected cash receipts in the month of November = 30% sales in the month of November + 65% sales in the month of October + 3% sales in the month of September.

Forward Company had sales in September of $120,000, in October of $140,000 , in November of $220,000

Expected cash receipts in the month of November = 30% x $220,000 + 65% x $140,000 + 3% x $120,000 = $66,000 + $91,000 + $3,600 = $160,600

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Answer:

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Read 2 more answers