I need the answer as soon as possible Al-Nasser Company maintains banking facilities in theform of an overdraft account with Al-Rasheed Bank.It has prepared sales forecasts, all of which are duefor the years 1990 and 1991, as follows:Amte enth end yeer1500May19901500June4000July5500August3100September6100October7600November3200 December1500 January1991Astudy prepared on the collection of receivables indicates as follows:175% of sales are collected during the first month from the date ofsale, Le. in the same month2. 80% of sales will be collected during the first month from the dateof sale3_ in 12% of sales are collected within two months from the date ofsale4 The remainder of the sales shall be collected within three monthsfrom the date of saleThe company has prepared to pay the costs of raw materials and laborwages during the month following the month of their entitlementThese purchases are estimated as followsAtin end manth and yeer750May1990750JuneJulyAugust170017001970September2650OctoberNovember13607700DecemberIn addition to that, there are cash payments as follows:1- Administrative and general expenaes in the amount of 225.000 staples per month2 Long-term payments 75,000 meter dinars per month3 Expenses 22S00 staples per month.4 Inceme is 55.500 debts.payable with this amount in each of the months, dates September and December.SThe account far purchasing leborateries prevents 160,000stars in the first and second twentieth of September.G Level depreciution thefts300,000 dinars.7- The cash balance on 7/1/10008- amounted to 110.000 for theminimum cash balance required to be kept during the parallel period 75,000 dekansehaRequired: Preparing the menthlycash budget for the last months of the year 1990

Cash Budget: Cash budget is statement, which shows the cash inflows and outflows for the specific…

Answered: nth end year 1500 May1990 1500 June…

Business

Accounting

nth end year 1500 May1990 1500 June 4000 July

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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Question

I need the answer as soon as possible

Al-Nasser Company maintains banking facilities in the
form of an overdraft account with Al-Rasheed Bank.
It has prepared sales forecasts, all of which are due
for the years 1990 and 1991, as follows:
Amte enth end yeer
1500
May1990
1500
June
4000
July
5500
August
3100
September
6100
October
7600
November
3200 December
1500 January1991
Astudy prepared on the collection of receivables indicates as follows:
175% of sales are collected during the first month from the date of
sale, Le. in the same month
2. 80% of sales will be collected during the first month from the date
of sale
3_ in 12% of sales are collected within two months from the date of
sale
4 The remainder of the sales shall be collected within three months
from the date of sale
The company has prepared to pay the costs of raw materials and labor
wages during the month following the month of their entitlement
These purchases are estimated as follows
Atin end manth and yeer
750
May1990
750
June
July
August
1700
1700
1970
September
2650
October
November
1360
7700
December
In addition to that, there are cash payments as follows:
1- Administrative and general expenaes in the amount of 225.000 staples per month
2 Long-term payments 75,000 meter dinars per month
3 Expenses 22S00 staples per month.
4 Inceme is 55.500 debts.
payable with this amount in each of the months, dates September and December.
SThe account far purchasing leborateries prevents 160,000
stars in the first and second twentieth of September.
G Level depreciution thefts
300,000 dinars.
7- The cash balance on 7/1/1000
8- amounted to 110.000 for the
minimum cash balance required to be kept during the parallel period 75,000 dekan
seha
Required: Preparing the menthly
cash budget for the last months of the year 1990

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