Frank's Sporting Goods projects sales for the second quarter of 200X to be as follows:          April RM100,000     May RM120,000 June  RM110,000               10% of Frank's sales are for cash, 70% of accounts receivable are collected one month following the sale, and the rest are collected two months following the sale.  January sales were RM40,000, February sales were RM60,000, and March sales were RM80,000.             Required :   Prepare a monthly schedule of cash receipts for the second quarter of 200X. What is the balance in accounts receivable at the end of June?

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.