(Appendix 10A)On October 31, a Firm Analyzed the Balance in Its

question 163

Essay

(Appendix 10A)On October 31, a firm analyzed the balance in its account receivables as follows:
Month of Sale Receivables Balance 10/31
October $40,000
September 24,000
August 20,000
July 5,000
The firm's typical collection pattern is as follows:
Cash sales 25%
Credit sales:
Month of sale 20
One month following 35
Two months following 15
Uncollectible (written off three months following)5
Total 100%
What were the original sales for September?

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