Xenos Company has the following sales projections for the coming months:
$$\begin{array} { l c }
\text { Month } & \text { Sales } \
\text { January } & \$ 60,000 \
\text { February } & 68,000 \
\text { March } & 75,000 \
\text { April } & 80,000 \
\text { May } & 95,000 \
\text { June } & 90,000
\end{array}$$
Xenos collects 20% of its sales in the month of sale, 45% in the month following the sale, and 35% in the second month following the sale.
Required:
a. Prepare a schedule of cash receipts for the three months April through June.
b. What would be the accounts receivable balance on June 30?

Question

Xenos Company has the following sales projections for the coming months:
 $$\begin{array} { l c } 
\text { Month } & \text { Sales } \
\text { January } & \$ 60,000 \
\text { February } & 68,000 \
\text { March } & 75,000 \
\text { April } & 80,000 \
\text { May } & 95,000 \
\text { June } & 90,000
\end{array}$$ 
Xenos collects 20% of its sales in the month of sale, 45% in the month following the sale, and 35% in the second month following the sale.
Required:
a. Prepare a schedule of cash receipts for the three months April through June.
b. What would be the accounts receivable balance on June 30?

Quizplus · Accepted Answer

The Answer of Xenos Company has the following sales projections for the coming months:
 $$\begin{array} { l c } 
\text { Month } & \text { Sales } \
\text { January } & \$ 60,000 \
\text { February } & 68,000 \
\text { March } & 75,000 \
\text { April } & 80,000 \
\text { May } & 95,000 \
\text { June } & 90,000
\end{array}$$ 
Xenos collects 20% of its sales in the month of sale, 45% in the month following the sale, and 35% in the second month following the sale.
Required:
a. Prepare a schedule of cash receipts for the three months April through June.
b. What would be the accounts receivable balance on June 30?

Xenos Company Has the Following Sales Projections for the Coming