Hoyt, Inc. has estimated current year sales (in millions) for the next four quarters.Q1 $240 Q2 $250 Q3 $205 Q4 $350


Sales for the 1st quarter next year are projected to be $230.

Accounts Receivable at the beginning of the year was $100.

Beginning Accounts Payable were $60.

The beginning cash balance is $50.

Hoyt, Inc. cash collection schedule is as follows: 60% of sales in the current quarter, 40%
in the 1st quarter after sale.

Purchases from suppliers in a quarter are equal to 50% of the next quarter’s forecasted
sales.

Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the
following quarter.

Wages, taxes and other expenses are 20% of current quarter sales

Hoyt, Inc. maintains a minimum cash balance of $30
Complete a cash budget for Hoyt, Inc.

Hoyt, Inc. has estimated current year sales (in millions) for the next four quarters.Q1 $240 Q2 $250 Q3 $205 Q4 $350



Sales for the 1st quarter next year are projected to be $230.
Accounts Receivable at the beginning of the year was $100.
Beginning Accounts Payable were $60.
The beginning cash balance is $50.
Hoyt, Inc. cash collection schedule is as follows: 60% of sales in the current quarter, 40%
in the 1st quarter after sale.
Purchases from suppliers in a quarter are equal to 50% of the next quarter's forecasted
sales.
Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the
following quarter.
Wages, taxes and other expenses are 20% of current quarter sales
Hoyt, Inc. maintains a minimum cash balance of $30
Complete a cash budget for Hoyt, Inc.






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