Graham Potato Company has projected sales of $10,200 in September, $13,500 in October, $20.200 in November $16.200 in December of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining d percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are $17000 and $9,500, respectively. The begi cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December Sales Credt sales Cash sales One month after sale Total cash receipts Graham Potato Company Cash Receipts Schedule October November December

Graham Potato Company has projected sales of $10,200 in September, $13,500 in October, $20.200 in November $16.200 in December of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining d percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are $17000 and $9,500, respectively. The begi cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December Sales Credt sales Cash sales One month after sale Total cash receipts Graham Potato Company Cash Receipts Schedule October November December

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 11CE: Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted...

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