Required 1 using the presidents new assumptions in 1

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Required: 1. Using the president's new assumptions in (1) above, prepare a schedule of expected cash collections for April, May, and June and for the quarter in total. Schedule of Expected Cash Collections April May June $ 45,000$ 40,000 $ 46,645 Quarter 131,645 1,703,200 325,200 370,200 660,400 700,400 717,600 764,245 Cash sales Sales on account: February March April May June Total cash collections $ 740,400 $ 1,400,800 $ 1,528,490 $ 3,669,690 2. Using the president's new assumptions in (2) above, prepare the following for merchandise inventory: a. A merchandise purchases budget for April, May, and June. Merchandise Purchases Budget April May June Budgeted cost of goods sold Total needs Required inventory purchases $ 0$ 0$ b. A schedule of expected cash disbursements for merchandise purchases for April, May, and June and for the quarter in total. Schedule of Expected Cash Disbursements for Merchandise Purchases April May June Quarter Beginning accounts payable April purchases May purchases June purchases Total cash disbursements $ 0 $ 0 $ 0 $ 0
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  • Fall '19
  • Cash sales Sales

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