Cash Sales Sales on account Total sales January February March 5,000 6,000 10,000 12,000 4,000 16,000 15,000 18,000 20,000 Ally Clay Company has the following sales for the first quarter of 2022: Sales on account are collected the month after the sale. The Accounts Receivable balance on January 1 is $7,000, the amount of December 2021's sales on account. Calculate the cash receipts from customers for the first 3 months of 2022.

Cash Sales Sales on account Total sales January February March 5,000 6,000 10,000 12,000 4,000 16,000 15,000 18,000 20,000 Ally Clay Company has the following sales for the first quarter of 2022: Sales on account are collected the month after the sale. The Accounts Receivable balance on January 1 is $7,000, the amount of December 2021's sales on account. Calculate the cash receipts from customers for the first 3 months of 2022.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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