The company began business on January 1 of the current year. The first quarter sales are estimated as follows: January $ 275,000 February 687,000 March 786,000 The firm expects cash to be collected in the following manner: • 60% collected in the month of sale • 25% collected in the month following the sale • 15% collected in the second month following the sale Prepare the schedule of the cash collection of Accounts Receivable for the first quarter

Q: Geaham Company projects the following sales for the first three months of the year: $12.600 in…

A: Cash receipts from customers: It refers to the amount to be received from the customers against cash…

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

A: Projected sales are an estimate of revenue which is expected to be earned by the company in the near…

Q: The Cash balance on Jan 01 of the Cowan Company is $ 5000. Sales and purchases for the first four…

A: Cash budget is the very important budget in the organisation by which expected cash receipts and…

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: 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: Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as…

A: A. Collection period is 60 days. Half of the sales of each month are credit Thus credit sales of…

Q: As of January 1 of the current year, Phyllis Company had accounts receivable of $50,000. The sales…

A: A cash budget is an estimation of income and expenditures on the basis of past performance or…

Q: Marlin Company projects the follwoing sales for the first thre months of the year: $11500 in…

A: Working Note Particulars  January   February   March  Total Budgeted Sales      11,500…

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

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

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

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

Q: Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry"…

A: PARTICULARS OCTOBER NOVEMBER DECEMBER Receipts from cash sales:       Cash sales $133000 * 25%…

Q: 1.A financial analyst for Carroll Company has prepared the following sales and cash disbursement…

A: Cash budget is a pre-planned record of expenditures and revenues. It is used to estimate the…

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: 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: 2. Ann Marie Roopchand Company has forecast its sales as follows: $180,000 (actual) August September…

A: Budgets are made to determine the expected cash receipts and expected cash expenses to be incurred…

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: Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that…

A: Cash Budget is an important device to plan and control cash receipts and payments. it shows the…

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

A: Collections are 75% in current month of sales, 20% in next month of sales and 5% in second month…

Q: Premium-Inn had the following estimated cash flows for the first quarter:    January  February…

A: Cash budget is one of the important budget being prepared in business. It shows expected cash…

Q: Garda purchased $600,000 of merchandise in August and expects to purchase $720,000 in September.…

A: Cash disbursement: It can be defined as the payment of cash made by the company from its account or…

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

A: Schedule of cash collection is prepared to calculate the company's collection from receivables for…

Q: March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in…

A: particulars  amount $ Cash balance $     25,000.00 add:customer collection  $58,950…

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: J.TOY Inc., was organized on August 1 of the current year. Projected sales for the next three months…

A: There are three conditions of cash collection:    Cash sales is 40% of total sales and 60% on…

Q: As of January 1 of the current year, Grayson Company had accounts receivable of $40,000. The sales…

A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

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

A: Oct.  Nov. Dec Total sales   105000 131000 192000

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

A: A cash sale is a sale where the consideration(money) is received immediately for the goods sold or…

Q: d.                                                             Cash Receipts…

A: Jan Feb Mar   Total Sales Value         90,000        1,10,000        1,20,000   Sale in…

Q: Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry"…

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

Q: The company’s sales manager prepared the following sales forecast for the first half of the year.…

A: Schedule of the cash collection of Accounts Receivable shall be prepared for each month of second…

Q: Compute the estimated total cash disbursements during July

A: Cash disbursements in accrual concept is recorded when the cash payment is made but the expense is…

Q: Mandalay Company provided the following information for the month of March: Beginning cash balance…

A: A cash budget is known as an estimation of expected cash receipts and disbursements based on…

Q: On January 1, Kale Company has a beginning cash balance of $42,000. During the year, the company…

A: Amount to be borrowed = Desired ending cash balance - Amounts available where, Amounts available =…

Q: Eastern Auto Parts Inc. has 15 percent of its sales paid for in cash and 85 percent on credit. All…

A: The cash receipts schedule presents the pattern in which the business entity expects to collect cash…

Q: The company began business on January 1 of the current year. The first quarter sales are estimated…

A: Formula: Amount to be collected in March = January month sale collected in March month + February…

Q: During March, Sam Company had cash sales of $35,000 and sales on account of $210,000. In April,…

A: Sales may be for cash or on credit. If it is on cash, cash is instantly received on sale. On the…

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

A: Calculation of Cash Sales and Credit Sales   OfficeMart Inc.    October   November   December…

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

A: Budgets are prepared to estimate the revenue, cost; receipts and payments for the business. There…

Q: The following information is extracted from Sosana Hotel’s management report for the month of…

A: Cash sales = RM 13,000 x 70% = RM 9,100

Q: Al Bahr Corporation, a wholesaler, provided the following information Month Sales January 64000…

A: The budget is prepared to estimate the cash collection in the future.

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

A: Cash collections schedule represents the cash collected by an entity during a specific period by…

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.