Cash receipts A firm reported actual sales of $65,000 in the month of June and $70,000 in July. The sales forecasts indicate that sales are expected to be $85,000, $92,000, and $95,750 for the months of August, September, and October, respec tively. Sales are 60% cash and 40% credit, and credit sales are collected evenly over the following 2 months. No other cash receipts are received. What are the firm's expected cash receipts for the months of August, September, and October?

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: 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: J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: September (actual)…

A: Sales are the gross earnings generated by a business entity from selling goods or services to its…

Q: Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in…

A: April May June  Cash sales 38%  $196,460  $200,260 $209,760   Sales on…

Q: Equarter by month. Cash sales are 10% of total sales each month. Historically, sales on ccount lave…

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

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

A:

Q: Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about…

A: Cash sale = 30% of sales So, Credit Sale = 70% of sales

Q: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and…

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

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: Arizona Co. had the following historical pattern for its credit sales: 30% collected in the month of…

A: Formula: Cash collection amount = Credit sales x cash collection percentage.

Q: A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000…

A: Credit sales refer to the sales in which the customer is given some time to pay for the goods…

Q: Cash receipts A firm reported actual sales of $65,000 in the month of June and $70,000 in July. The…

A: June month Credit sales  = $65000×40% = $26000 This $26000 will be received evenly in july and…

Q: Sales for April, May, June, and July will be $310,000, $330,000, $320,000, and $340,000,…

A: Account receivable shows the amount of sales which is not received yet. In simple, it represents the…

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 Professional Service Company expects 70% of sales for cash and 30% on credit. The company…

A: Credit Sales of June: 70% will be collected in June. 25% will be collected in July. 5% are not…

Q: How much cash will be collected in​ January? In​ February? In​ March? For the quarter in​ total?

A: WORKING NOTE   November December January Febuary March   Sales revenue              16,500…

Q: Sarasota, Inc. provided the following information:     July   August   Projected sales   $234,000…

A: The cash disbursement is calculated as the total cash payment made during the given period. The…

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

A: Prepare a schedule of cash collections from sales for October, November and December as shown below:…

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: chedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers…

A: Cash collection schedule is prepared to estimate the total receipts of a particular period. Total…

Q: 1.A company has the following expected pattern of collections on credit sales 70 percent collected…

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

Q: s Clothiers has forecast credit sales for the fourth quarter of the year.   September $70,00…

A: We need to prepare schedule of cash receipts with the given collection information - 30 percent of…

Q: Problem 1. Jane McDonald, a financial analyst for Carroll Company, has prepared the following sales…

A: A cash budget is a budget prepared to know the cash receipts, payments, and ending cash balance for…

Q: Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was…

A: The cash collection schedule is prepared by the company when the company sells its goods on credit.…

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…

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

A: The cash budget is prepared to record the cash receipts and cash payments during the period.

Q: Using the following data for for Rodriguez Art Studio to prepare a cash follow forecast. - Sales…

A: Cash inflow means cash coming in the business like amount received from customers. Cash outflow…

Q: Eastern Auto Parts Inc. has 20 percent of its sales paid for in cash and 80 percent on credit. All…

A: Solution:- Cash receipt budget is the budget prepared to forecast the upcoming cash receipts by the…

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: Eastern Auto Parts Inc. has 20 percent of its sales paid for in cash and 80 percent on credit. All…

A: This question said that cash sales are 20% and credit sales are 80%. The credit sales are recovered…

Q: Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about…

A: 1. Calculate credit sales for May: Calculate credit sales for June:

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

A: Working notes: Excel workings:

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: Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are…

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

Q: The cash balance at the beginning of September is £ 20,000. ii. Actual sales for July and August and…

A: 1) The schedule of cash collections is as follows: September cash sales £39,000 September…

Q: Jasper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

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…