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solutionmodule8 - 1 Sales collection a sales budget Month...

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1) J-09 F-09 M-09 Sales $120,000 $132,000 $145,200 1st month 2nd month 3rd month collection 70% 20% 10% a. sales budget Month J-09 F-09 M-09 Sales $120,000 $132,000 $145,200 b. Total Sales Revenue $397,200 c. Cash reciepts schedule J-09 F-09 M-09 Cash Collected $84,000 $116,400 $140,040 d. Amount of accounts receivable $56,760 2) Month April May June COGS $70,000 $80,000 $90,000 a) Inventory Purchase Budget Month April May June Beg Inventory $3,500 $8,000 $9,000 Ending Inventory desired $8,000 $9,000 $7,600 Inventory Purchases Required $74,500 $81,000 $88,600 b)amount of ending inventory $7,600 c) Schedule of Payments Month April May June Add: Months payments $37,250 $40,500 $44,300 Add: Last Months payments $15,100 $37,250 $40,500 Net Amount Paid $52,350 $77,750 $84,800 d. Accounts payable balance $29,200 3) Month Jan Feb Mar Cash Receipts $101,000 $108,000 $125,000 Cash Payments (inventory) $92,000 $72,000 $83,000 Cash Payments (S&A) $30,000 $32,000 $26,000 Beg Cash Balance $7,000 Cash Cushion required $5,000
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Interest Rate (per month) 1% Cash Budget Month Jan Feb Mar Beg: line of credit liability account $30,000 Cash Receipts $101,000 $108,000 $125,000 Cash Payments (inventory) $92,000 $72,000 $83,000 Cash Payments (S&A) $30,000 $32,000 $26,000 Beg Cash Balance $7,000 Payments Required at end of month Cash Payments (inventory) $92,000 $72,000 $83,000 Cash Payments (S&A) $30,000 $32,000 $26,000
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