Cash receipt schedule of Power Ridge Corporation for 4th quarter | |||||
Power Ridge Corporation | |||||
Cash receipts schedule | |||||
Amount in $ | September | October | November | December | |
Sales | 50000 | 40000 | 35000 | 60000 | |
a) | Collections of current sales (20% of current month's sales) | 8000 | 7000 | 12000 | |
(40000*20%) | (35000*20%) | (60000*20%) | |||
b) | Collection of prior month's sales (70% of prior months sales) | 35000 | 28000 | 24500 | |
(50000*70%) | (40000*70%) | (35000*70%) | |||
c) | Total cash receipts (c=a+b) | 43000 | 35000 | 36500 |
Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows:...
Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows: September (actual Fourth Quarter October November December $58.000 53,000 78,000 Experience has shown 40 percent of sales are collected in the month of sale, 50 percent are collected in the following month, and percent are never collected. Prepare a cash receipts schedule for Power Ridge Corporation covering the fourth quarter (October through December) Power ridge corporation Cash Receipt Schedule September october Sales Collections of...
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Last two pictures are the same page, just couldn’t fit it all into one picture, thanks! 10.00 points Problem 4-17 Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows: September (actual) $63,000 Fourth Quarter $53,000 48,000 73,000 Experience has shown 15 percent of sales are collected in the month of sale, 60 percent are collected in the following month, and 25 percent are never collected Prepare a cash receipts schedule for Power Ridge...
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Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
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