Friday
October 24, 2014

Homework Help: business

Posted by Andre on Tuesday, March 20, 2012 at 12:27am.

Lansing Auto Pats, Inc., has projected sales of $25,000 in October , $35,000 in November, and $30,000 in December of the company’s sales 20 percent are paid for by cash and 80 percent are sold on credit. The credit sales are collected one month after the sale. Determine collections for November and December. Also assume that the company’s cash payment for November and December are $30,400 and $29,800, respectively. The beginning balance in November is $6,000, which is desired minimum balance. Prepare a cash budget with borrowing needed or repayments for November and December. (you will need to prepare a cash receipts schedule first.)

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

managerial accounting - Werntz furniture had actual sales for July and august ...
Acounting 202 - Dokken & Dietrich’s Donut Company pays for 25% of its inventory ...
Accounting help - I'm trying to make an income statement...for sales revenue out...
principles of finances - according to my interpretation of the question in ...
business - The Recall Computer Company has six territories, each represented by ...
accounting - On October 31, a flood at Payne Company’s only warehouse caused ...
math - The Recall Computer Company has six territories, each represented by one ...
accounting - how would the table of analysis be set up with these transactions: ...
Account - Peck Company: The Peck Company reported the following items on its ...
Accounting - Peck Company The Peck Company reported the following items on its ...

Search
Members