Exercise 8-28 Name:
Insert your answers in the gray-shaded cells of columns D, F, and H. If an answer is
incorrect, the word “wrong” will appear.
a. January February March
Nov. sales 24,900$ – –
Dec. sales 22,800 – –
Dec. sales – 22,800$ –
Jan. sales 31,284 – –
Jan. sales – 23,700 –
Jan. sales – – 23,700$
Feb. sales – 34,848 –
Feb. sales – – 26,400
Mar. sales – – 23,364
Total collections 78,984$ 81,348$ 73,464$
b.
Feb. sales to be collected in April 26,400$
Mar. sales to be collected in April 17,700
Mar. sales to be collected in May 17,700
Total A/R balance at March 31 61,800$
Solution