Gifts For All has projected sales for next year of: Q1 Q2 Q3 Sales $ 25,400 $ 27,600 $ 34,000 Q4 $ 41,900 Purchases are equal to 63 percent of next quarter's sales. Each month has 30 days, the accounts receivable period is 40 days, and the accounts payable period is 43 days. How much will the company pay suppliers in the third quarter?
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- A. DEF has total forecasted gross purchases of P4,500,000 relating to a major supplier for the coming year. The supplier is offering a credit term of 3/15, n/45. How much is the simple annual effective cost of paying on the 45th day? B. ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How much is the simple annual cost of the loan?A. DEF has total forecasted gross purchases of P4,500,000 relating to a major supplier for the coming year. The supplier is offering a credit term of 3/15, n/45. How much is the simple annual effective cost of paying on the 45th day? B. ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How much is the simple annual cost of the loan? C. ABC’s bank offered a loan with conditions of a P5,000,000 face amount, 6-month term, 4% interest deducted in advance and bank charge of P30,000. How much is the compounded annual effective cost of the bank loan?Accounts receivables equal 45 days' credit sales. the coming year should see sales of 900,000 spread evenly over the year. what should accounts receivable be at the end of the year? Provide the answer and solution ty
- Problem A DEF has total forecasted gross purchases of P4,500,000 relating to a major supplier for the coming year. The supplier is offering a credit term of 3/15, n/45. How much is the simple annual effective cost of paying on the 45th day? Problem B ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How much is the simple annual cost of the loan? Problem C ABC’s bank offered a loan with conditions of a P5,000,000 face amount, 6-month term, 4% interest deducted in advance and bank charge of P30,000. How much is the compounded annual effective cost of the bank loan?You carry over a credit card balance of $500 wuth an APR of 18.99%. You make a minimum payment of 8% each month. Round all values to the nearest cent. A. What is the finance charge for this first month? B. What is the new balance? C. What is the minimum payment for this month? D. What is the carry over balance for the next month?Company XYZ has annual credit sales of $2,500,000. Collection of the credit sales are evenly spread out over the 250 working days per year. The company’s annual cost of borrowing is 7%. How much would XYZ save each year by improving its receivables process by one day?
- 1. A loan of $14,400 is to be repaid in end-of-the-quarter payments of $600. How many payments are required to repay the loan at 10.5% compounded quarterly? 2. Scheduled payments of $1,010 due five months ago and $1,280 due today are to be repaid by a payment of $615 in four months and the balance in seven months. If money is worth 7.75% p.a. and the focal date is in seven months, what is the amount of the final payment?HAPPY Company makes credit sales of P1,800,000 annually. The average age of accounts receivable is 30 days. Management consider shortening credit terms to 20 days. Cost of money is 12%. How much will the company save from financing charges? Use 360-day year MY ANSWER IS 6,000 AND 12,000. WHAT IS THE CORRECT ANSWER?Given an annual credit sales value of 365 million; accounts receivable beg. 36.5 million, cost of goods sold of 240 million, and beginning inventory of 20 million, how long is the average colelction period? (assume 365 days in a year)
- Imagine a loan of $420,000. The loan is to be repaid in six years (i.e., last payment at the end of month 72). If the APR of this loan is 7.80%, what will be your monthly payments? $7,724 $7,643 $7,451 $7,323 $7,548Calculate the average percentage rate for a company that wants to increase its inventories by $475,000. It expects the bank to finance at least 50% over 120 days. The bank's interest charges would be $13,000.Use 360 days in a year. Solutions must be complete (including formulas). Present rates in percent and rounded off to five decimal places (e.g. 35.66667 for 35.666666%). Round off days to two decimal places. . DF has total forecasted gross purchases of P4,500,000 relating to a major supplier for the coming year. The supplier is offering a credit term of 3/15, n/45. 1. How much is the simple annual effective cost of paying on the 45th day?
