%24 Flint, Inc. provided the following information: July August Projected sales $236,000 $250,000 Projected merchandise purchases $144,000 $176,000 Flint estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. Flint pays for 30% of merchandise purchases in the month purchased and 70% in the following month. General operating expenses are budgeted to be $20,500 per month, including depreciation of $1,900. Flint pays operating expenses in the month incurred. Flint makes loan payments of $3,500 per month of which $600 is interest and the remainder is principal. Calculate Flint's budgeted cash disbursements for August. Budgeted Cash Disbursements $. eTextbook and Media Save for Later Attempts: 0 of 3 used Submitswer f4 f5 f12 64 prt s 91 23. %3D 5. 8.

%24 Flint, Inc. provided the following information: July August Projected sales $236,000 $250,000 Projected merchandise purchases $144,000 $176,000 Flint estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. Flint pays for 30% of merchandise purchases in the month purchased and 70% in the following month. General operating expenses are budgeted to be $20,500 per month, including depreciation of $1,900. Flint pays operating expenses in the month incurred. Flint makes loan payments of $3,500 per month of which $600 is interest and the remainder is principal. Calculate Flint's budgeted cash disbursements for August. Budgeted Cash Disbursements $. eTextbook and Media Save for Later Attempts: 0 of 3 used Submitswer f4 f5 f12 64 prt s 91 23. %3D 5. 8.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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