Answer:
<u>Total cash receipts = 123,000</u>
Explanation:
September cash receipts:
30% of september sales:
30% of 130,000 = 39,000
70% of August sales (previous month)
70% of 120,000 = 84,000
Total cash receipts = 123,000
Note: We are asked for september collection from sales:
30% of september is in cash, so are colected instantly.
Then the remaining, which are credit sales are canceled in the following month.
So the credit sales of August are collected in the following month, which is september. That's why it is included in the calculation.
July sales are colelcted in July and August, none in september.
When you are making college visits, it is possible to see scholars, attend a practice class, experience their thoughts, feelings, and how easy or hard the work might be to you.
I hope this helped you
