None A company has given the sales details for the first half of the year as follows:Ksh. 000January 460,000February 630,000March 784,000April 930,000May 1,190,000June1,370,00010% of sales are for cash and the balance is on credit. Of the credit sales, 42% iscollected in the month of sale; 50% one month later; 7%, two months later and thebalance is unrecoverable and therefore written off as bad debts.Required:Calculate the debtor's collection (in ksh.000) for the month of June.OA. Ksh 1,087,290B. Ksh 1,071,000OC. Ksh 896,292OD. Ksh 1,233,000D

When we collect revenue from the debtors or accounts receivsble it is known as debtors collection.

January 460,000 February 630,000 March 784,000 April 930,000 May 1,190,000 June 1,370,000 10% of sales are for cash and the balance is on credit. Of the credit sales collected in the month of sale; 50% one month later; 7%, two months late balance is unrecoverable and therefore written off as bad debts. Required: Calculate the debtor's collection (in ksh.000) for the month of June.

January 460,000 February 630,000 March 784,000 April 930,000 May 1,190,000 June 1,370,000 10% of sales are for cash and the balance is on credit. Of the credit sales collected in the month of sale; 50% one month later; 7%, two months late balance is unrecoverable and therefore written off as bad debts. Required: Calculate the debtor's collection (in ksh.000) for the month of June.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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