(Pro forma accounts receivable balance calculation) The accounts receivable for Pastors Brewing Company on March 31, 2016 was $22,500. Firm sales are roughly evenly split between credit and cash sales with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here: end of April? a. Under these circumstances, what should the balance in accounts receivable be at b. How much cash did Pastors' realize during April from sales and collections? a. Under these ci $(Round to f t Data table MONTH January February SALES $20,000 $25,000 MONTH March O SALES $30,000 $34,000 April (projected) (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) D X
(Pro forma accounts receivable balance calculation) The accounts receivable for Pastors Brewing Company on March 31, 2016 was $22,500. Firm sales are roughly evenly split between credit and cash sales with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here: end of April? a. Under these circumstances, what should the balance in accounts receivable be at b. How much cash did Pastors' realize during April from sales and collections? a. Under these ci $(Round to f t Data table MONTH January February SALES $20,000 $25,000 MONTH March O SALES $30,000 $34,000 April (projected) (Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.) D X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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