Eastern Auto Parts Inc. has 15 percent of its sales paid for in cash and 85 percent on credit. All credit accounts are collected in the following month.    Assume the following sales:          January $ 85,000 February   75,000 March   120,000 April   65,000   Sales in December of the prior year were $95,000. Prepare a cash receipts schedule for January through April.       Eastern Auto Parts Inc.   January February March April Sales         Cash receipts:         Cash sales         Prior month's credit sales         Total cash receipts $0 $83,500 $81,750 $111,750

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A:

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A:

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Q: d.                                                             Cash Receipts…

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A:

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.