Solution to lecture-6 illustration question

Solution to lecture-6 illustration question - $135,000...

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SOLUTION TO LECTURE-6 ILLUSTRATION QUESTION 9-25 1. W HITE M OUNTAIN F URNITURE C OMPANY E XPECTED C ASH C OLLECTIONS N OVEMBER Month Sales Percent Expected Collections September. ....... $150,000 9% $ 13,500 October. ........... 195,000 20% 39,000 November. ........ 165,000 70% 115,500 Total. ............. $168,000 2 . W HITE M OUNTAIN F URNITURE C OMPANY E XPECTED C ASH D ISBURSEMENTS N OVEMBER October purchases to be paid in November
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Unformatted text preview: $135,000 Less: 2% cash discount 2,700 Net $132,300 Cash disbursements for expenses 36,000 Total $168,300 3 . W HITE M OUNTAIN F URNITURE C OMPANY E XPECTED C ASH B ALANCE N OVEMBER 30 Balance, November 1 $ 55,000 Add: Expected collections 168,000 Less: Expected disbursements 168,300 Expected balance $ 54,700...
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Solution to lecture-6 illustration question - $135,000...

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