(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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Definitions:

Societal Levels

Refers to the different strata or layers within a society, often categorized by socio-economic or cultural distinctions.

Interactional

Pertaining to the dynamic and reciprocal relationship between individuals or between individuals and their environment, influencing and being influenced by each other.

STIs

Sexually Transmitted Infections, diseases that are passed from one person to another through sexual contact.

Heterosexual Contact

Sexual interaction between individuals of the opposite sex.