Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale, 30% was collected the month after the sale, and 10% was collected the second month after the sale. Sales for November through February are shown. November        December       January        February $25,000              $35,000           $20,000        $25,000 a. based on these sales, how much cash will be collected in January? b. based on these sales, how much cash will be collected in February?

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: Jane MacDonald, Carroll Financial Analyst, prepared the following sales and cash disbursement…

A: Cash budget is the forecasting of the cash revenues and expenditures that an entity might plan to…

Q: Romper Company expects its November sales to be 20% higher than its October sales, which were…

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Q: Cash collections for Wax On Candles found that 58% of sales were collected in the month of the sale,…

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

Q: The Dunce Company expects to have sales of 30,000 in January, 33,000 in February, and 38,000 in…

A: A cash receipt is a proof which is received by a customer when a product or service is purchased…

Q: Fur Family Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the…

A: The cash collected is determined by multiplying the sales of a month with the percentage received in…

Q: Outdoorsies expects total sales of $698,000 for January and $347,000 for February. November sales…

A: Budgeted cash collection is the expected cash is to be collected in a particular month for the…

Q: Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for…

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: Prepare a schedule indicating cash collections from sales for May, June, and July.

A: Sale made on account is nothing but credit sales. Subsequent collection from debtors depends credit…

Q: A company has the following collection pattern: month of sale 40%; month following sale, 60%. If…

A: Note : Sales of Feb Corrected : $200000 Statement of Computation of Cash Collection In February…

Q: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,…

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

Q: OfficeMart Inc. has “cash and carry” customers and credit customers. OfficeMart estimates that 25%…

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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: 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 the sales in which the corporation does not get the receipts from the sales of…

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: what are the cash receipts from sales in February?

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Q: OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25%…

A: October November December Total sales 58,000 65,000 72,000 Less: Cash sales (Total sales x…

Q: Dolittle and Dalley has $4,000 in purchases for January and $5,000 in purchases for February. It…

A: January month accounts receivable =   January sales ×  ( 100 % - percentage collected in the month…

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

A: Answer -    The Cash Receipts Schedule -  A cash receipts schedule/ budget shows the pattern and…

Q: Andover Inc. has projected sales to be: February, $10,000; March, $9,000; April, $8,000; May,…

A: Total cash receipts in May = (30% * Projected sales of May) + (70% * 40% * Projected sales of April)…

Q: The ABC Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: The Palos Company expects sales for June, July, and August of $48,000, $54,000, and $44,000,…

A: Credit sales: Sales are made to customer but payment will be delayed to a future date. Formulas:

Q: Cash Collections for Belcher Motors found that 35% of its sales were cash and the remaining 65% are…

A: The cash collection during the quarter depends on the percentage of cash sales and credit sales and…

Q: Planet Company purchased goods worth $50,000 in July and expects to purchase goods worth $70,000 in…

A: Solution:- Computation of total expected cash disbursement for the month of August as follows…

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: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,…

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

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: 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: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,…

A: Solution: Computation of cash collection in the month of  Jan and feb will be based on sales during…

Q: The cash collection pattern of Twice Co. Inc shows that 60% of sales are collected on the month of…

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Q: Beryllium Company had $330,000 sales in December 20X1 and expects total sales of $360,000 in January…

A: Cash receipts is the amount of sales which is received. It shows the amount of sales which is…

Q: Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in…

A: Budgets are the estimates or forecasts for future period and expressed in quantitative form of…

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A: Cash collection=Total sale×% collection

Q: Cash Collections for Belcher Motors found that 35% of its sales were cash and the remaining 65% are…

A: Cash Collection in Q3 = Cash Sales + Cash Collection from Credit Sales   Cash Collection from Credit…

Q: The cash balance, May 31, 20X4, is $15,000. Sales proceeds are collected as follows: 80% the month…

A: Cash budget: A cash budget is a budget which records the expected cash inflows and outflows of a…

Q: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,…

A: Solution: Cash collection is done on the basis of percentages of collection in the respective months…

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…

Q: Steve’s total cash collections in the month o

A: Total cash collections in June = 20% * sales of June + 65% * sales of May + 15% * sales of April

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

A: The cash budget is prepared by the management to estimate the expected cash receipt and cash…

Q: Galaxy Lighting Company manufactures and sells lighting fixtures. Estimated sales for     the next…

A: Cash budget refers to the complete estimation of business cash flow for a particular period of time.

Q: Cash collections for Wax On Candles found that 60% of sales were collected in the month of the sale,…

A: Total Cash collected amount will be calculated after considering all the cash collected within that…

Q: ABC Company manufactures and sells lighting fixtures. Estimated sales for the next three months are;…

A: Here in this question we will required to prepare budgets. Budget is a estimation of management…

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A: Cash balance at the end of September 30 can be calculated by using this equation Cash balance at end…

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A: Cash sales 30% + 70% credit sales = 100% sales out of the 70 % the collection is made as follows:…

Q: Dominic's, Inc. had actual sales for January and February and forecasted sales for March, April, May…

A: Formula: Cash collections = Month sales value x cash collected percentage. Multiplication of month…

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…