?? Cedarwood Corporation provided the followinginformation for the month of November:.Beginning cash balance: $50,000. Cash receipts: $520,000Cash disbursements: $560,000Cedarwood's policy is to maintain a minimum end-of-the-month cash balance of $40,000.How much will Cedarwood need to borrow duringNovember?

Calculation of Ending Cash Balance without borrowingEnding Cash Balance without borrowing =…

Answered: Cedarwood Corporation provided the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EA: Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in...

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The cash balance on March 31 will be $146000, but waterways has decided it would like to maintain a cash balance of at least $400,000 beginning on April 30. The company has an open line of credit with its bank. the terms of the agreement require borrowing to be in $1000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments and interest payments are on the last day of the month. What do i have to borrow? and what is the repayments? and then what are the repayments with interest?
Neighborhood company has $32,000 cash at the beginning of June and anticipates $80,600 in cash receipts and $51,500 in cash disbursements. The company requires a minimum cash balance of $37,000. Any excess cash over the minimum desired balance is used to pay down debts. Neighborhood has an agreement with its bank to borrow as needed or to repay loans as funds become available. As of may 31, the company owes $32,000 to the bank. The balance of the loan on june 30 will be
During its first year of operations, G Company provides services on account of $250,000. By the end of the year, cash collections on these accounts total $130,000. The company estimates that 10% of accounts receivable will be uncollectible at the end of the year. On March 13, G Company writes off a customer's account of $3,800. On June 3, the customer unexpectedly pays the $3,800 balance. Required: a) Determine the uncollectible accounts expense for the year b) The balance in Allowance for Doubtful Accounts c) The net realizable value of the accounts receivable d) Explain the relationship of Accounts Receivable and Allowance for Doubtful accounts and what type of questions can be answered by analyzing these two (2) items when checking the company's balance sheet
During its first year of operations, Gavin Company had credit sales of $3,000,000; $600,000 remained uncollected at year-end. The credit manager estimates that $31,000 of these receivables will become uncollectible Prepare the journal entry to record the estimated uncollectibles. Screen Shot 2020-03-23 at 3.51.19 PM
Springer Products wishes to borrow $90,000 from a local bank using its accounts receivable to secure the loan. The bank's policy is to accept as collateral any accounts that are normally paid within 30 days of the end of the credit period, as long as the average age of the account is not greater than the customer's average payment period. Springer's accounts receivable, their average ages, and the average payment period for each customer are shown in the following table: Customer Accounts Receivable Average age of account Average payment period of customer A $11,000 42 days 50 days B $25,000 70 days 65 days C $10,000 48 days 45 days D $28,000 55 days 50 days E $14,000 50 days 60 days F $19,000 21 days 35 days G $30,000 10 days 30 days H $16,000 25 days 40 days…
Prime Products hopes to borrow $32,000 on April 1 and repay it plus interest of $800 on June 30. The following data are available for the months April through June, during which the loan will be used: a. On April 1, the start of the loan period, the cash balance will be $33,600. Accounts receivable on April 1 will total $142,800, of which $122,400 will be collected during April and $16,320 will be collected during May. The remainder will be uncollectible. b. The company estimates 30% of a month's sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% are bad debts that are never collected. Budgeted sales and expenses for the three- month period follow: April Sales (all on account) $ 366,000 May $ 634,000 June $ 340,000 Merchandise purchases Payroll $ 285,000 $ 203,000 $ 21,000 $ 21,000 Lease payments. $ 35,000 $ 35,000 $ 171,500 34,900 $ $ 35,000 Advertising $ 71,000 $ 71,000 $ 67,200 Equipment purchases $…
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On February 1, Maris Company received a 9,000, 10%, four-month note receivable. The cash to be received by Maris Company when the note becomes due is?
Kindly help me
On March 31, Dower Publishing discounted a $30,000 note at a local bank. The note was dated February 28 and required the payment of the principal amount and interest at 6% on May 31. The bank’s discount rate is 8%. How much cash will Dower receive from the bank on March 31?

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