Graham Potato Company has projected sales of $19,200 in September, $21,000 in October, $29,200 in November, and $25,200 in December. Of the company's sales, 20 percent are paid for by cash and 80 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are $24,500 and $17,000, respectively. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December. Sales Credit sales Cash sales One month after sale Two months after sale Total cash receipts Graham Potato Company Cash Receipts Schedule September October November December 0

Graham Potato Company has projected sales of $19,200 in September, $21,000 in October, $29,200 in November, and $25,200 in December. Of the company's sales, 20 percent are paid for by cash and 80 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are $24,500 and $17,000, respectively. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December. Sales Credit sales Cash sales One month after sale Two months after sale Total cash receipts Graham Potato Company Cash Receipts Schedule September October November December 0

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter2: Working With Real Numbers

Section2.3: Rules For Addition

Problem 8P

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