The management of Huges Co. estimates that credit sales for January, February, March and April will be $180,000, $210,000, $230,000, and $160,000, respectively. Experience has shown that collections are made as follows: In month of sale 25% In first month after sale 60% In second month after sale 10% The collections from customers in march is _________? show solution

Q: Cash Accounts receivable Inventory Budgeted Balance Statemen July 31, 2021 Assets

A: *Estimated account receivable turnover: Credit sales = 345000×80% = $276000 Out of $276000, 30% will…

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: The management of Sheffield Industries estimates that credit sales for August, September, October,…

A: Cash collection means the amount of money estimated to be collected by the entity from the sales of…

Q: A company has the following collection pattern: month of sale, 30%; month following sale, 70%. If…

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

Q: The LaPann Corporation has obtained the following sales forecast data: July $ 80,000 September $…

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

Q: Vaughn Industries expects credit sales for January, February, and March to be $268,400, $317,200,…

A: Given, 75% of credit sales collected in month of sale 25% of credit sales will be collected in the…

Q: 50,000 June 56,000 July 45,000 August es in January and February were $53,000 and $52,000…

A: Companies give credit to customer ro purchase now and pay later and due to which default of…

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: In this case of Halifax shoes, it is given that there are  a certain fixed proportion of credit…

Q: Marlin Company projects the follwoing sales for the first thre months of the year: $11500 in…

A: Working Note Particulars  January   February   March  Total Budgeted Sales      11,500…

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: 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: 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: What are the materials purchases costs for February?

A: The direct material purchase budget is a budget prepared for a future period to calculate the…

Q: Alderman Corporation has found that 70% of its sales in any given month are credit sales, while the…

A: A cash collection budget is a budget which shows the total cash collection in a given period. The…

Q: The Guitar Shoppe reports the following sales forecast: August, $120,000; September, $210,000. Cash…

A: Cash receipt budgets used by the entity to identify the amount of cash collected every month from…

Q: OfficeMart Inc. has "cash and carry" customers and credit customers. Office Mart estimates that 30%…

A: The account receivables are the current assets of the business. The cash collection schedule is…

Q: Frontier Ltd., a leader in solar technology, makes all sales on credit, offering terms 2/10 net 40.…

A: Cash Budget budget is to be prepared for April may and june month. Jan, Feb and march sales are…

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: Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and…

A: In this question, Firstly we calculate the collection in March from the January, February and March…

Q: Homer Company expects credit sales for January to be $50,000. Cash sales are expected to be $30,000.…

A: Given,  Credit sales for January = $50,000 Cash sales for January = $30,000 Increase in sales = 10%…

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

A: Cash receipts budget is prepared by an organization to estimate the amount of cash to be collected…

Q: Curtent Attempt in Progress The management of Riverbed Industries estimates that credit sales for…

A: The term "credit sales" means the transfer of ownership of goods and services to a consumer with the…

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: ober ember ember 44,000 39,000 64,000 ience has shown that 30 percent of sales are collected in the…

A: Schedule of cash reciepts calculates and shows the pattern of cash collections or reciepts of its…

Q: Blue Company's accountant Bella has prepared the below forecasted credit sales for the quarter July…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Memphis company anticipates total total sales for April, May and June of 910000, 1010000 and…

A: Credit sales are the sales made by the organization to its customer to repay the due on a later…

Q: OfficeMart Inc. has “cash and carry” customers and credit customers. OfficeMart estimates that 30%…

A: A cash collection schedule means showing a pattern in which a business expects to collect cash from…

Q: January February March The Accounts Receivable balan Prepare a schedule of cash col INN Schedul For…

A: Lets understand the basics.Management prepare budget in order to estimate future profit and loss…

Q: Prepare a Sales Budget for all four months, showing breakdown between cash and credit sales Sales…

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

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: March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in…

A: particulars  amount $ Cash balance $     25,000.00 add:customer collection  $58,950…

Q: ge Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected…

A: Cash Receipts from Customers is based on budgeted cash receipts that is estimated on specific…

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: November sales for last year were $100,000, while December sales were $115,000. Projected sales for…

A: Cash collections means the amount of money collected by the entity from the sales of current month…

Q: The management of Marigold Industries estimates that credit sales for August, September, October,…

A: The cash collection is done as per the collection schedule.  Collection for October include 25% of…

Q: The following are expected sales figure of ABC Ltd. Month January February March April OMR OMR OMR…

A: Expected Cash collection for March=60%×Sale of Feb.+40%×Sale of…

Q: X-Tel budgets sales of $96,000 for April, $144,000 for May, and $102,000 for June. Sales are 50%…

A: In order to increase the sales revenue the business entities sold their goods on a credit basis.…

Q: Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and…

A: Lets understand the basics. Cash collection schedule is prepared by management to know the cash…

Q: Hernandez Company expects credit sales for January to be $58,000. Cash sales are expected to be…

A: Total sales = Cash sales + Credit Sales The company will receive cash in February for Credit sales…

Q: Required: Calculate the cash collections that would be included in the cash budgets for November and…

A: It is a normal practice of the Business Entities to allow trade credit to their customers. The…

Q: Miler Company expects its November sales to be 15% higher than its October sales of $170,000. All…

A: Cash budget is the statement which is prepared by the entity to forecast the cash receipts and cash…

Q: Pacific Place has developed the following sales forecast for the following months.   Month…

A: Introduction Cash budget: Cash budget is an estimate of cash receipts and cash payments for a future…

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.