Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $115,000 November 144,000 December 210,000 The Accounts Receivable balance on September 30 was $77,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

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: Schedule of Cash Collections of Accounts Receivable Furry Friends Supplies Inc., a pet wholesale…

A: Cash Collection is the schedule of collecting cash that is sold on accounts. It is used in preparing…

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: 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: 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: Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its…

A: 1.  Prepare a schedule of cash receipts for July: Roybal Inc. Schedule of Cash Receipts For…

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: March, April, and May sales are $100,000, $120,000, and $125,000, respectively. Atotal of 80% of all…

A: Cash Budget:   Cash budget is a budget that is prepared to estimate the cash inflows and cash…

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: Frontier Ltd., a leader in solar technology, makes all sales on credit, offering terms 2/10 net 40.…

A: Cash Budget budget is to be prepared for April may and june month. Jan, Feb and march sales are…

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: Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its…

A: Depending on previous collection trends, a cash receipts schedule depicts the trend in which a…

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: 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: Foyert Corporation requires a minimum $7,400 cash balance. Loans taken to meet this requirement cost…

A: A budget refers to the statement that is prepared based on the estimation of revenue and expenditure…

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: Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its…

A: SOLUTION- CASH BUDGET- IT IS AN ESTIMATION OF THE CASH FLOWS FOR A BUSINESS OVER A SPECIFIC PERIOD…

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

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 Furry Friends Supplies Inc., a pet wholesale…

A: Schedules of collections from sales shows total amount received on account of sales made, either…

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 on Accounts Receivable and Cash Budget Bennett Inc. found that about…

A: Accounts receivable refers to the balance amount to the firm for goods and services delivered but…

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

A: Given information : Sales in June = $65,000 Sales in July = $70,000 Expected sales in August =…

Q: n August 1 of the current year. Projected sales for the next three months are as follows: $100,000…

A: Schedule of Expected Cash Collections: Schedule of Expected Cash Collections from the customers…

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: Company X expects the following sales in March: Cash Sales Credit Sales $192,500 $650,000 The…

A: This question deals with the calculation of cash that will be receivable in the month of March. We…

Q: Furry Friends Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for…

A: Amount collected in same month = Sales x 53% Amount collected in next month = Sales x 36% Amount…

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

A: A cash budget represents the estimated cash inflows and cash outflows for a period.Cash Budget-…

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: Graham Potato Company has projected sales of $11,400 in September, $14,500 in October, $21,400 in…

A: Cash receipt schedule represents the total cash collected in a particular period by the company and…

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: 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: 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: Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its…

A: Cash Budget: Cash budget is a financial budget. It is prepared to assess inflows and outflows of…

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

A: Statement showing sales on account: Month Amount($) January $160,000 February $210,000…

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: The company has received a large order and anticipates the need to go to the bank to increase its…

A:

Q: Eddie's Bar and Restaurant Supplies expects its revenues and payments for the first part of the year…

A: Formula: Cash received amount = Total sales x collectible percentage of sales amount for the month.…

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.