13. Maddry Company has the following sales for the first quarter of 2015: (Click

Question

13. Maddry Company has the following sales for the first quarter of 2015: (Click on the icon to view the sales for the first quarter of 2015) Sales on account are collected the month after the sale. The Accounts Receivable balance on January 1 is $13,000, the amount of December's sales on account. Calculate the cash receipts from customers for the first three months of 2015. ch Total cash receipts from customers Data Table March 4,650 00017500 JanuaryFebruary 5500 Cash sales 7250 Sales on account Total sales $ 7,250 $5,500 14,500 21.750 21.500 $ 22.150 Print Done

Explanation / Answer

January February March Cash sales $    7,250 $       5,500 $    4,650 Collected on account $ 13,000 $     14,500 $ 16,000 Total cash receipts from customers $ 20,250 $     20,000 $ 20,650

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