Frank's Sporting Goods projects sales for the second quarter of 20X5 to be as follows:
April $100,000 May $120,000 June $110,000
Ten percent of Frank's sales are for cash, 70% of accounts receivable are collected one month following the sale, and the rest are collected two months following the sale. January sales were $40,000, February sales were $60,000, and March sales were $80,000.

Question

Quizplus · Accepted Answer

The Answer of Frank's Sporting Goods projects sales for the second quarter of 20X5 to be as follows:
April $100,000 May $120,000 June $110,000
Ten percent of Frank's sales are for cash, 70% of accounts receivable are collected one month following the sale, and the rest are collected two months following the sale. January sales were $40,000, February sales were $60,000, and March sales were $80,000.

Frank's Sporting Goods Projects Sales for the Second Quarter of 20X5