??!! General Accounting:A firm has actual sales of $80,000 in March and$65,000 in April. It expects sales of $85,000 in Mayand $105,000 in June and July.Assuming that sales are the only source of cashinflows and that half of them are for cash, while theremaining half is collected evenly over thefollowing two months, what are the firm's expectedcash receipts for May, June, and July?

Explanation of Sales: Sales represents the total revenue generated by a business from selling its…

Answered: General Accounting: A firm has actual…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 5MC

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Assume that it is now July of Year 1 and that the brothers are developing projected financial statements for the following year. Further, assume that sales and collections in the first half-year matched the predicted levels. Use the Year-2 sales forecasts shown in the following table to estimate next year’s receivables levels for the end of March and for the end of June.
Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $75,000 in June, $65,000 in July, and $90,000 in August?
Suppose the company has just the opposite news and now expects unit sales for August, September, and October to be double (200%) the original estimates. What effect will this have on the company’s net income and borrowing? Explain your findings.
Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
A firm has an actual sales of P65,000 in April and P60,000 in May. It expects sales of P70,000 in June and P100,000 in July. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following two months, what are the firm’s expected cash receipts for July?
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Cash receipt?
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Aho firm has actual sales of $69,000 in April and $57,000 in May. It expects sales of $74,000 in June and $97,000 in July and in August. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following 2 months, what are the firm's expected cash receipts for June, July, and August? Hello, can u give correct answer
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Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands): Month 1 Month 2 Month 3 Month 4 Cash sales 35 44 38 34 Sales on credit 300 320 290 270 On average, 45% of credit sales are paid for in the current month, 25% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in thousands and rounded to one decimal place.
Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands): Month 1 Month 2 Cash sales Sales on credit 16 110 25 130 Month 3 Month 4 19 100 15 80 On average, 51% of credit sales are paid for in the current month, 31% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in thousands and rounded to one decimal place. Items Month 3 Month 4 Expected Cash Inflow from Operations (in $ thousands)

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