Liza's budgets sales of $42,000 for May and $54,000 for June. Assume 70% of Liza's sales are for cash. The remaining 30% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. Schedule of Cash Receipts from Sales Sales Cash receipts from: LIZA'S Total cash receipts June $ 54,000 $ 0

Liza's budgets sales of $42,000 for May and $54,000 for June. Assume 70% of Liza's sales are for cash. The remaining 30% are credit sales; credit customers pay the entire amount owed in the month following the sale. Prepare the schedule of cash receipts from sales for June. Schedule of Cash Receipts from Sales Sales Cash receipts from: LIZA'S Total cash receipts June $ 54,000 $ 0

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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