Question:
From the following information, compute the collection from Debtors for the months of June, July and August:
|
April
|
May
|
June
|
July
|
August
|
|
Sales (Rs)
|
1,00,000
|
120,000
|
90,000
|
1,05,000
|
1,25,000
|
20% of sales are made in cash. Debtors are allowed a 2 months' credit, but will receive a 5% cash discount if they pay off their dues within the month next to the month of sale. About 4/5th of the Debtors normally clear their dues to avail the Cash Discount. Remaining Debtors pay on the due date.