Rajiv Financial Services had a cash balance on March 1, 2013 of $1,004,797. Its cash receipts for the month of March Cotaled $2,771,445. Sales on account for the month amounted to $1,373,462 with cash receipts from these sales to be received in April. Cash expenses for March were $988,351. Purchases on account for March amounted to $257,102 with 30 day payment terms. What is the cash balance for Rajiv Financial Services as of March 31, 2013?
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- Sheridan Company provides the following information for the month ended October 31, 2022: sales on credit $366,100, cash sales $108,300, sales discounts $5,100, and sales returns and allowances $12,900.Prepare the sales section of the income statement based on this information.During March, Sam Company had cash sales of $35,000 and sales on account of $210,000. In April, payments on account totaled $175,000. The journal entry prepared by Sam to record the March sales would include a debit to: A. Cash for $35,000, debit to accounts receivable for $210,000, and credit to sales revenue for $245,000 B. Cash for $35,000, debit to deferred revenue for $210,000, and credit to sales revenue for $245,000 C. Cash for $35,000, debit to accounts payable for $210,000, and credit to sales revenue for $245,000 D. Cash and credit to sales revenue for $35,000Putman Company had cash sales of $75,950 (including taxes) for the month of June. Sales are subject to 8.5% sales tax.Prepare the entry to record the sale. Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount
- At January 1, 2017, Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2017, accounts receivable is $54,000. Sales revenue for 2017 total $420,000. Compute Eikenberry’s 2017 cash receipts from customers.At January 1, 2017 Eikenberry Inc. had accounts receivable of $72,000. At December 31, 2017, accounts receivable is $54,000. Sales revenue for 2017 is $420,000. Compute Eikenberry's 2017 cash receipts from customers.Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30. Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October.
- Jasper Company has sales on account and for cash. Speclfically, 63% of Its sales are on account and 37% are for cash. Credit sales are collected In full in the month following the sale. The compay forecasts sales of $526.000 for April, $536.,000 for May, and $561,000 for June. The beginning balance of Accounts Recetvable Is S291.600 on Aprll 1. Prepare a schedule of budgeted cash recelpts for Aprl, May, and June.On April 30, Gomez Services had an Accounts Receivable balance of $30,100. During the month of May, total credits to Accounts Receivable were $65,200 from customer payments. The May 31 Accounts Receivable balance was $24,000. What was the amount of credit sales during May?In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate the days' sales uncollected for October.
- Corentine Company had $152,000 of accounts payable on September 30 and $132, 500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October and make an accounts payable table. On September 30, Valerian Company had a $102, 500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on credit that occurred in October and make an accounts receiveable table. During October, Alameda Company had $102, 500 of cash receipts and $103, 150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30 and make a cash table.On May 1, Jensen's had a beginning cash balance of $284. April sales were $810 and May sales were $960. During May, cash expenses were $360 and payments on accounts payable were $630. The accounts receivable period is 30 days. What is the beginning cash balance on June 1?Valenzuela, Incorporated, has a cash cycle of 45.5 days, an operating cycle of 67 days, and an inventory period of 29 days. The company reported cost of goods sold in the amount of $346,000, and credit sales were $569,000. What is the company’s average balance in accounts payable and accounts receivable?