Schedule of Cash Collections from Sales
Cash collection scheduled prepared for the cash budget so manager can estimate cash flow of next period on the basis of past experience.
Cash collation from credit sales 59% received in same month, 37% received in next month and remaining 4 % received in next to next month.
Pet Place Supplies Inc.
Schedule of Cash Collection from sales
For Three months ending on July, 31
May |
June |
July |
|
May Sales on account |
|||
Collected in May (59 % ) ($ 390,000*59 %) |
$ 230,100 |
||
Collected in June (37%) ($ 390,000*37 %) |
$ 144,300 |
||
Collected in July ( 04% ) ($ 390,000*04 %) |
$ 15,600 |
||
June Sales on account |
|||
Collected in June (59 % ) ($430,000*59 %) |
$ 253,700 |
||
Collected in July (37%) ($430,000*37 %) |
$ 159,100 |
||
July Sales on account |
|||
Collected in July (59 % ) ($610,000*59 %) |
$ 359,900 |
||
Total |
$ 230,100 |
$ 398,000 |
$ 534,600 |
Schedule of Cash Collections from Sales Pet Place Supplies Inc., a pet wholesale supplier, was organized...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $330,000 June 390,000 July 520,000 All sales are on account. Of sales on account, 51% are expected to be collected in the month of the sale, 45% in the month following the sale, and the remainder in the second month following the sale. Prepare a...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May June $310,000 420,000 560,000 July All sales are on account. Of sales on account, 51% are expected to be collected in the month of the sale, 45% in the month following the sale, and the remainder in the second month following the sale. Prepare a...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $320,000 June 460,000 July 620,000 All sales are on account. Of sales on account, 55% are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale. Prepare a...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $200,000 June 250,000 July 330,000 All sales are on account. Of sales on account, 60% are expected to be collected in the month of the sale, 35% in the month following the sale, and the remainder in the second month following the sale. Prepare a...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $240,000 June 360,000 July 540,000 All sales are on account. Of sales on account, 57 % are expected to be collected in the month of the sale, 38 % in the month following the sale, and the remainder in the second month following the sale....
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: 2. May 5310,000 3. June 450,000 July 590,000 4. All sales are on account. Of sales on account, 52 % are expected to be collected in the month of the sale, 44% in the month following the sale, and the remainder in the second month following...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Proiected sales for each of the first three months of operations are as follows: May $134,000 June 155,000 July 169,000 All sales are on account. Sixty-five percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule...
Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $310,000 June 420,000 July 560,000 All sales are on account. Of sales on account, 51% are expected to be collected in the month of the sale, 45% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for...
Schedule of Cash Collections of Accounts Receivable Pet Stop Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $280,000 June 360,000 July 510,000 All sales are on account. Of sales on account, 60% are expected to be collected in the month of the sale, 35% in the first month following the sale, and the remainder in the second month following the sale. Prepare a...
Schedule of Cash Collections of Accounts Receivable Pet Stop Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $230,000 June 320,000 July 420,000 All sales are on account. Of sales on account, 58% are expected to be collected in the month of the sale, 37% in the first month following the sale, and the remainder in the second month following the sale. Prepare a...