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Good evening, I am hoping that someone can check my answers below and let me know...

Good evening,

I am hoping that someone can check my answers below and let me know if they are correct? Thank you!

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1 Schedule of Cash Collection January March Computation Computation Amount Cash Collections Collection of Accounts Receivable Collection of January Sales Collection of February Sales Collection of March Sales Sales of Equipment Total Cash Collection Note: 60% of the sales are collection in the month of sales and 35% in the subsequent month of sales [20% x $225000] S45000 [60 x S57000342,000 [356x $57000o] $199,500 [606 x $660000] $396,000 35 x $660000$231,000 [60 x $675000] $405,000 $27,000 $663,000 $387,000 $595,500 2 Schedule of Cash Disbursement January March Computation Computation Amount ComputationAmount $78,000 Payment of Accounts Payable Payment of January Purchases Payment of February Purchases Payment of March Purchases Cash Operating Costs Total Cash Disbursements Note: 70% of the purchases are paid in the month of purchase and 30% in the subsequent month of purchase (70%x5390000] $273,000 | [30%x5390000] (70%x5420000] $117,000 $294,000 | [30% x $420000] $126,000 378,000 $147,000 $651,000 [70% x S540000] $105,000 $456,000 $84,000 $495,000 3 Schedule of Financing Cash Flows January March Computation Computation Amount Beginning Cash balance Add: Total Receipts Subtotal $80,000 $387,000 $467,000 $456,000 $11,000 $80,000 $595,500 $675,500 $495,000) $180,500 $104,600 $663,000 $767,600 (S651,000 $116,600 Cash Excess/Ideficiency) before financing Financing Borrowing to maintain $80000 balance Less: Loan Principle Repaid Less: Loan Interest Paid Ending Cash Balance Note: Interest is calculated @ 10% of the amount repaid. $80000-S11000]$69,000 50 $69,000 (56,900) $104,600 50 50 $116,600 S0 [S69000 x 10 $80,000

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