55. Ivory Company has the following expected pattern of collections on credit sales: 70 percent
collected in the month of sale, 15 percent in the month after the month of sale, and 14 percent
in the second month after the month of sale. The remaining 1 percent is never collected. At the
end of May, Ivory Company has the following accounts receivable balances:
From April sales P21,000
From May sales 48,000
Ivory's expected sales for June are P150,000. What were total sales for April?
a. P150,000 c. P 70,000
b. P 72,414 d. P140,000
Bạn đang xem 55. - KUPDF COM MAS TEST BANK QUESTION