The company began business on January 1 of the current year. The first quarter sales are estimated as follows  January $250,000 February 350,000 March 400,000 Total  1,000,000 The firm expects cash to be collected in the following manner: 50% collected in the month of the sale 40% collected in the month following the sale  10% collected in the second month following the sale  Determine the amount to be collected in March?

Q: A firm has actual sales of $69,000 in April and $57,000 in May. It expects sales of $74,000 in June…

A: Part 2: Explanation:Step 1: Calculate the cash portion of sales for each month:- April: $69,000 / 2…

Q: A company's history indicates that 25% of its sales are for cash and the rest are on credit.…

A: The cash collection schedule is prepared to estimate the cash collection from the customers during…

Q: Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that…

A: WORKING NOTE : 1) The cash sales for any month will be: 0.20 * Sales of that month. 2) Cash…

Q: Baird Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a…

A: A sales budget seems to be a financial forecast that forecasts a firm's total revenue for a given…

Q: Campbell Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a…

A: Sales budgets helps in determining the volume of sales that shall be projected to happen in the…

Q: Mercurius forecasts the following sales figures for the next four months. June July August…

A: The companies usually provide the goods or render services to the customer to earn profit. The…

Q: Assume that your credit sales for March was $16,288,for April was $33,301 and May was $29,261. If…

A: The cash budget is prepared to know the estimated cash receipt and cash expenses. it helps in the…

Q: Johnson Corporation has the following sales forecasts for the first three months of the current…

A: Computation of the cash balance at the end of January:Cash balance, January 1$25,000Add: Cash…

Q: Oriole Company management wants to maintain a minimum monthly cash balance of $20,100. At the…

A: The cash budget is prepared to estimate the financing requirements for the period. The cash receipts…

Q: Crane Industries expects credit sales for January, February, and March to be $281,600, $332,800, and…

A: Step 1: Calculate Cash Collections for Each MonthJanuary:Collected in January (75% of January sales)…

Q: the attachement to answer the following Cash outflows in March for purchases will be: a) $240…

A: Gross margin is very important in the business and gross margins can be obtained by deduction of…

Q: A company's history indicates that 20% of its total sales are for cash and the remaining 80% are on…

A: Cash receipts means the expected money collected by the entity during a period from the sales of the…

Q: Melody Inc. had a November ending cash balance of $15,000. As well, it had sales of $10,000 in…

A: To calculate Melody Inc.'s cash balance at the end of March, we need to consider the cash inflows…

Q: Carla Vista Industries expects credit sales for January, February, and March to be $211,200,…

A: Step 1:Understanding meaning of budget:- Management prepares budget in order to estimate future…

Q: lion company expects $650,000 of credit sales in march and $800,000 of credit sales in april. lion…

A: The cash budget keeps the records of cash requirements in the business.

Q: Rooney Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a…

A: calculation of above requirement are as follows

Q: Ratchet Manufacturing anticipates total sales for August, September, and October of $300,000,…

A: Formula: Cash collection amount = Sales value x Cash collection ratio

Q: Neon Inc.’s forecast sales for July is $72,000. It has $15,000 in accounts receivable at the end of…

A: The objective of this question is to calculate the amount of accounts receivable at the end of July…

Q: Jasper Company has 60% of its sales on credit and 40% for cash. All credit sales are collected in…

A: Cash collection budget :— This budget is prepared to estimate the collection of sales from customers…

Q: June sales were $20,000​, while projected sales for July and August were $50,000 and $71,000​,…

A: The cash collection schedule is prepared to estimate the cash collection during the given period.…

Q: At the end of September a company has cash balance of $800, trade receivables of $12000 and trade…

A: CASH BUDGET Cash Budget is a detailed budget of cash income and cash expenditure incorporating both…

Q: Thornton Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a…

A: Detailed explanation:a.  Sales budget :sales budget shows the sales expected to be generated during…

Q: Jamaica Co’s sales forecast for the first five months of 2018 are as follows: January…

A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…

Q: Musselman Kennels had sales for the months of January through April of $150, $100, $120, and $200,…

A: To calculate the cash inflows for April, the total cash Musselman Kennels will receive from sales…

Q: $75,000 $80,000 $90,000 $100,000 $110,000

A: To calculate Melody Inc.'s cash balance at the end of March, we need to consider the cash inflows…

Q: Campbell Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a…

A: Answer a) Sales Budget for First Quarter   January February March Quarter Sales  $…

Q: Compute the Cash Collected in March. Total Sales January 40,000 February 50,000 March 70,000 The…

A: Sure, let's display only the calculations: 1. **Cash Sales in March**: \[ \text{Cash Sales} =…

Q: Simpson Glove Company has made the following sales projections for the next six months. All sales…

A: Budget means the expected value of future. Budget will be compared with actual value and variance is…

Q: Assume receivables of $20,000 at the start of the January are all collected during the month; if…

A: When a sale is made and cash is received at the time of sale it is referred to as cash sale, however…

Q: Neon Inc.’s forecast sales for July is $72,000. It has $15,000 in accounts receivable at the end of…

A: The objective of the question is to calculate the amount of accounts receivable at the end of July…

Q: Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as…

A: Expected cash receipts shows amount of cash to be collected from customers. Accounts receivable…

Q: How do I prepare a schedule of cash collected from customers for the quarter ended March 31, 20X1?

A: Cash collected from customer is the amount received from sale made to customer through both cash and…

Q: Budgeted cash receipts February March

A: Schedule of cash collection includes collection of sales based on their % of collection in…

Q: The beginning cash balance is $20,600. Sales are forecasted at $715,000 of which 70% will be on…

A: Lets understand the basics.Budget is an estimation of future profit and loss in the…

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.