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ACC Ch9 - Exercise 9-43 Roybal Inc.

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Question;Exercise 9-43 Roybal Inc. selld all of its product on account. Roybal has the following accounts receivable payment expereince;Percent paid in the month of sale 20Percent paid in the month after the sale 55Percent paid in the second month after the sale 23;To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows;April $190,000May $248,000June $260,000July $240,000August $300,000;Required:1. Prepare a schedule of cash receipts for July2. Prepare a schedule of cash receipts for August

 

Paper#43108 | Written in 18-Jul-2015

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