Business
Business, 03.12.2019 20:31, sofiakeogh1487

Preparing a schedule of cash collections on accounts receivablekailua and company is a legal services firm. all sales of legal services are billed to the client (there are no cash sales). kailua expects that, on average, 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. for the next five months, the following sales billings are expected: may $84000june 100800july 77000august 86100september 89000required: prepare a schedule showing the cash expected in payments on accounts receivable in august and in september. if an amount box does not require an entry, leave it blank or enter "0". be sure to enter percentages as whole numbers.

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