ACC9 - 1. Accounts Receivable Beginning Balance April Sales...

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1. April May June Total Accounts Receivable Beginning Balance $205,000 $26,000 0 $231,000 April Sales $300,000 $60,000 $210,000 $30,000 $300,000 May Sales $500,000 0 $100,000 $350,000 $450,000 June Sales $200,000 0 0 $40,000 $40,000 Total Cash Collections $1,000,0000 $265,000 $336,000 $420,0000 $1,021,000 2. Accounts receivable to date = $1,000,000 (total budgeted sales) – $790,000 (total quarter collections) = $210,000 9-2 April May June Total Budgeted Sales In Units 50,000 75,000 90,000 215,000 Ending Finished Goods Inventory Requirements 7,500 9,000 8,000 8,000 Inventory needs 57,500 84,000 98,000 223,000 Beginning Finished Goods Inventory 5,000 7,500 9,000 5,000 Required Production 52,500 76,500 89,000 218,000 9-7 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Beginning Cash Balance $20,000 $10,000 $110,000 $25,800 $20,000 Add: Cash Receipts $180,000 $330,000 $210,000 $230,000 $950,000 Total Cash Available $200,000 $340,000 $320,000 $255,800 $970,000 Less: Cash Disbursements $260,000
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ACC9 - 1. Accounts Receivable Beginning Balance April Sales...

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