 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
I need to prepare a cash receipt schedule first how do I do this?
I need to prepare a cash receipt schedule first how do I do this? The question is Lansing Auto Parts,Inc has projected sales of $25,000 in Oct, $35,000 in Nov and $30,000 in Dec. Of the company sales, 20% are paid for by cash, and 80% are sold on credit.The credit sales are collected one month after sale. Determine collections for Nov and Dec. Also assume that the company's cash payment for Nov and Dec are $30,400 and $29,800, respectively. The beginning cash balance in Nov is $6,000, which is the desired minimum balance. Prepare cash budget with borrowing needed or repayment for Nov and Dec.
|
||||
Check out some similar questions!
I need to prepare a schedule of cash recepts covering the fourth quarter. Do you inc
[ 1 Answers ]
Prepare a schedule of cash receipts covering the fourth quarter. 10 % will never be collected. How do I include this in my schedule?
Cash receipt/a/r
[ 1 Answers ]
Ellis Sport Shop projects the following sales: Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000....
Journalizing the receipt of cash
[ 1 Answers ]
At the end of the day, the cash register tape lists $827.27 as total income from services. Cash on hand consists of $15.27 in coins, $694.00 in currency, $80 in traveler's checks, and $236.00 in customers' checks. The amount or the change fund is $200. How do I record this in the general...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
