Pacific Place has developed the following sales forecast for the following months.   Month   Sales May $500,000 June $650,000 July $380,000 August $300,000               The collection policy for customers is:               40 percent in the month of sale             60 percent in the following month after sale       How much is the expected total cash collections from customers in June?   Multiple Choice   $610,000   $260,000   $590,000   $560,000   $300,000

Q: The Guitar Shoppe reports the following sales forecast: August, $150,000; and September, $170,000.…

A: Schedule of Cash receipts shows cash receipts from all the sources during a particular period.

Q: Worton Distributing expects its September sales to be 25% higher than its August sales of $154,000.…

A: August Sales = $154,000 September Sales = $154,000 + 25% = $192,500   Cash Collection in September…

Q: Music World reports the following sales forecast: August, $150,000; and September, $170,000. Cash…

A: Schedule of cash receipts: A schedule of cash receipts shows how much cash is expected from debtors…

Q: Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands…

A: Expected cash collections in Month 3 = Cash sales + Credit sales in month 3*50% +  Credit sales in…

Q: Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August.…

A: Answer) Calculation of Total cash collections in August    Amount  Collections in August:…

Q: Star Co. was organized on August 1 of the current year. Projected sales for the next three months…

A: Schedule of Expected Cash Collections: Schedule of Expected Cash Collections from the customers…

Q: From the following information available from a company, prepare Cash Budget (monthly) for April,…

A: Cash Budget Cash Budget is define as the estimation of cash flow of a business. It is prepared to…

Q: The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash bu get for the next…

A: Solution 1: Computation of Collection from Customer Particulars May  June July Collection for…

Q: The Dilly Company (DC) began operations on December 1, 2021. All sales are credit sales with 50%…

A: cash collection is calculated by multiplying the collection % with the respective month sales.

Q: How much cash would be collected in June from sales? * NUBD Co. has the following sales forecasts…

A: The question is related to the Budgetory Control. In the question it is given that  Cash Sales = 75%…

Q: Saathi forecast sales of P48,000 for the month of June and P55,000 for July. It has been assumed…

A: Cash receipt budget are used by the management to identify the level of cash which will be collected…

Q: anu has forecast sales to be $129900 in February, $159900 in March, $163400 in April, and $177000kn…

A: Cash receipts refer to the amount that is received in against of sale of goods or services. It is…

Q: Dane Inc. has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Rindo Company expects to have P37,500 cash on hand on April 1st, and requires you to prepare a cash…

A: Here, Period of Credit to purchases is 2 months that means payment of Feb will be done in April and…

Q: The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the…

A: Cash Sales: Cash sales are transactions in which the buyer pays immediately. Bills, coins, cheques,…

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: he following is the sales budget for Coore, Inc., for the first quarter of 2019:      January…

A: Here in this question, we are required to calculate cash collection schedule. Cash collection…

Q: Hazel Company has forecast sales to be $120,000 in February, $145,000 in March, $170,000 in April,…

A: Budget refers to the estimation of the incomes and expenses for a specified future period as per the…

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: 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: The Danser Corporation expects to generate sales equal to $30,000 in January, $33,000 in February,…

A: Total cash collection for March is 20% of March sales, 50% of February Sales and 30% of January…

Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…

A: Credit sales are purchases made by customers for which payment is delayed. Delayed payments allow…

Q: How to solve for the 3rd and 4th month.

A: It is given that cash collection in a month includes all cash sales in current month, 60% of credit…

Q: Trapp Co. was organized on August 1 of the current year.  Projected sales for the first three months…

A: Cash sales means the sales which are done by the seller against cash receipts. So, cash sales are…

Q: Ballentine Company expects sales for June, July, and August of $65,000, $71,000, and $61,000,…

A: Cash sales for August (61,000 x 40%) = $24,400

Q: Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August.…

A: Month Projected Sales Amount June $100000 July $90000 August $70000

Q: Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands…

A: In this we have to calculate cash flow in 3 and 4 months.

Q: Elmo has forecast sales to be $125,000 in February, $135,000 in March, $150,000 in April, and…

A: Given: February : $125,000 March     : $135,000 April       :  $150,000 May       : $140,000…

Q: Miller Corporation has the following sales budget for the third quarter of 2021:   Month…

A: Lets understand the basics. Management for the purpose of preparing cash budget calculates the cash…

Q: Webster provides the following information regarding its actual and future sales: January Actual…

A: (1) In the Cash flow statement only those items which are affected by Cash movement will be…

Q: Gilmore Company needs to know its anticipated cash inflows for the next quarter by month. Cash sales…

A: Accounts receivable represents the income that has been earned but not yet received.

Q: Sioux Corporation is estimating the following sales for the first four months of next year:…

A:

Q: Reck Chocolates reports the following information from its sales budget: Expected Sales amount: July…

A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…

Q: You collect 80% of each month's sales in one month following the sale and 20%, the remainder, two…

A: Budgeted cash collections is the estimate of amount of money that will be received in a future…

Q: from the following data of nature’s herbs company, prepare a sales forecast and schedule of cash…

A: The sales which were on credit would receive the amount as per the time specified in the credit…

Q: Here is a forecast of sales by National Bromide for the first 4 months of 2019 (figures in thousands…

A: Monthly collections Month 3: cash sales + 60% (credit sales of month 3)+20% (credit sales of month…

Q: Gerry Jacobs, a financial analyst for Best Value Supermarkets, has prepared the following sales and…

A: Budgeting is a process of estimating the outcomes of the upcoming period. Cash budget is a part of…

Q: Fine Co. has the following sales forecasts for the third quarter of 2021: P85,000 (July), P88,000…

A: The question specifies that all sales are on credit. Also 70% of credit sales are collected in the…

Q: tar Company was organized on August 1 of the current year. Projected sales for the next three months…

A: Cash account means where cash receipts is added to the opening cash balance and all cash payment…

Q: Avery Company projects the following sales for the first three months of the​ year: $13,500 in…

A: Jan Feb Mar   Cash Sales 10800 12720 12640 Credit Sales 1350 2940 3170 Total Cash…

Q: Projected Cash Receipts,Romaris Brothers Inc. needs a cash receipts schedule for the months of…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Compton Company expects the following total sales:   Month Sales   March $30,000   April $20,000…

A: Given that: Credit Sales = 60% of Sales 30% of credit sales will be received in same month and 70%…

Q: Getty Company expects sales for the first three months of next year to be $205,000, $270,000 and…

A: Collection terms are as follows: 30% of the sale is Cash Sale and 70% is Credit Sale Out of the…

Q: Marcel Company projects the following sales for the first three months of the year: $11,200 in…

A: A cash budget is an estimation of expected cash receipts and disbursements on the basis of past…

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

A: Expected cash collections in June = Cash received from June Sales + Cash received for May Sales.

Q: Wichita Industries' sales are 10% for cash and 90% on credit. Credit sales are collected as follows:…

A: Cash sales for February = Total sales x 10% Credit sales for February = Total sales x 90%

Q: Jake Company needs to calculate the amount of cash it expects to collect for the month of july using…

A: Receivables are the assets of the company that arises from the credit sales by the company to its…

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.