ACC 206 CHAPTER 6 7 Answers
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Description
Chapter 6 and 7 Answers
Chapter 6 Exercise 2
- Schedule of cash collections
A. Schedule of cash collections
Sugarland Company Schedule of Cash Collections
May June July Total Cash Sales:
May18,000
- 18,000 June
24,000
24,000 July
- 25,500 25,500 Account sales collections :
May25,200 14,700
39,900 June
33,600 19,600 53,200 July
- 35,700 35,700 TOTAL CASH COLLECTIONS 43,200 72,300 80,800 196,300
Computations: Cash salesAccount sales collections May 60000 x .30 18000May 60000 x .70 x .60 25200 ; 60000 x .70 14700 June 80000 x .30 24000June 80000 x .70 x .60 33600 ; 80000 x .70 x .35 19,600 July 85000 x .30 25500July 85000 x .70 x .60 ...
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