NUBD Company is developing a forecast of March 2021 cash receipts from credit sales. Credit sales for March 2021 are estimated to be P320,000. The accounts receivable balance - gross at February 28, 2021 is P300,000; one quarter of the balance represents January credit sales and the remainder is from February sales. All accounts receivable from months prior to January 2021 have been collected or written-off. NUBD's history of accounts are: In the month of sale In the first month after month of sale In the second month after month of sale Written-off as uncollectible at the end of the second month after month of sale 20% 50% 25% 5%

NUBD Company is developing a forecast of March 2021 cash receipts from credit sales. Credit sales for March 2021 are estimated to be P320,000. The accounts receivable balance - gross at February 28, 2021 is P300,000; one quarter of the balance represents January credit sales and the remainder is from February sales. All accounts receivable from months prior to January 2021 have been collected or written-off. NUBD's history of accounts are: In the month of sale In the first month after month of sale In the second month after month of sale Written-off as uncollectible at the end of the second month after month of sale 20% 50% 25% 5%

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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