Homework Answers
Sales budget
| June | July | August | |
| Cash sales | 302400 | 312200 | 350000 |
| Credit sales | 129600 | 133800 | 150000 |
| Total sales | 432000 | 446000 | 500000 |
Cash collection budget :
| June | July | August | |
| Cash sales this month | 302400 | 312200 | 350000 |
| 100% of last month credit sales | 106800 | 129600 | 133800 |
| Total collection from customer | 409200 | 441800 | 483800 |
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Suppose a lumber yard has the following data . Accounts receivable, May 31: (0.30 x May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale 20 Percent paid in the month after the sale 55 Percent paid in the second month after the sale 23 To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April...
8 Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of...
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Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April $275,500 May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 15%...
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Prepare a schedule of budgeted cash collections from sales for May, June, and July. Include a...
Prepare a schedule of budgeted cash collections from sales for
May, June, and July. Include a three-month summary of estimated
cash collections.
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Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and...
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Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was...
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8
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April $275,500 May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 30% of its sales during the month were for cash. Bennett has the following accounts receivable payment experience: Percent paid in the month of sale 25 Percent paid in the month after the sale Percent paid in the second month after the sale Bennett's anticipated sales for the next few months are as follows: April $250,000 May 290,000 June 280,000 July 295,000 300,000 August Required:...
Prepare a schedule of budgeted cash collections from sales for
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