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From the following data for Acoustic Sales, calculate the receipts from accounts receivable for September, October and November of 2016.

	Actual		Estimated
	July	August	September	October	November
Credit sales	$112,000	$94,000	$99,000	$111,000	$94,000

Credit sales are normally settled according to the following pattern: 20 per cent in the month of the sale, 50 per cent in the month following the sale, and the remainder in the second month following the sale.

		September		October		November
Receipts from accounts receivable		$		$		$

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91781281

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