Determine the estimated cash collected on customers' accounts in June.

Q: How much of June's credit sales is expected to be collected in the month of July?

A: Given information is: Alpha Company makes all its sales on account. Accounts receivable payment…

Q: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

Q: Alpha Company makes all its sales on account. The accounts receivable payment experience is as…

A: Given, Percent paid in the month after the sale = 54%   So,  Collection of June's credit sales in…

Q: Data regarding a company's monthly sales for the last six months of the year and its projected…

A: Budgeted Cash receipts for September = (Budgeted credit Sales for August X 57%) + (Budgeted Sales…

Q: What is LoGo's payables deferral period (DPO)?

A: Payables deferral period (DPO) = Accounts payable/Credit purchases per day It is the number of days…

Q: How much cash is the company expected to receive on maturi

A: The company sold merchandise for ₱45,094  ₱10,000 down payment is already received so the remaining…

Q: The I. M. Broke Co. has the following collection pattern for its accounts receivable: 40 percent in…

A: Business organizations are required to sell their goods on a credit basis. Out of the credit sales…

Q: The IM Broke Co., has the following collection pattern for its accounts receivable: 40% in the month…

A: Entities often prepare for its expected collections from total sales made, where it can able to get…

Q: As of January 1 of the current year, Phyllis Company had accounts receivable of $50,000. The sales…

A: A cash budget is an estimation of income and expenditures on the basis of past performance or…

Q: The Amber Magic Shoppe has forecast its sales revenues and purchases for the last 5 months of 2014…

A: Percentage of cash sale=100-Credit sale percentage=100-65%=35%

Q: Alpha Company makes all its sales on account. Accounts receivable payment experience is as follows:…

A: A cash budget is an estimation of expected cash receipts and disbursements based on experience. It…

Q: Noreen Company provided the following information for 2020: Accounts receivable – January 1…

A: Accounts receivables are those customer accounts to whom the business has made credit sales on…

Q: At the beginning of July, ABC assigned P2,000,000 out of its P10,000,000 outstanding accounts…

A:

Q: The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the…

A: Cash Sales: Cash sales are transactions in which the buyer pays immediately. Bills, coins, cheques,…

Q: Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

A: Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

Q: At the beginning of July, Bartleby Graduate Inc. assigned P2,000,000 out of its P10,000,000…

A: Cash Remittance: A cash remittance is one in which the sender puts cash into the recipient's account…

Q: Besoluck company has sales of P480,000 and P450,000 for September 4 points and October respectively.…

A: Reserve for doubtful accounts represents the estimation of the management for the accounts…

Q: Jane sport shop projects the following sales, P75,000 for April, P95,000 for May, and P110,000 for…

A: The schedule of cash receipts depends upon the credit period allowed to the customer as per the…

Q: Besoluck company has sales of P480,000 and P450,000 for September and October respectively. Of the…

A:

Q: The payment schedule of purchases made on account is as follows: 75% during the month of purchase,…

A: Payment for credit purchases in December = 10% of October + 15% of November + 75% of December

Q: McDowell Industries sells on terms of 3/10, net 30. Total sales for the year are $912,500; 40% of…

A: Note:  This question has five subparts. The first three have been answered below.

Q: At the end of the year, Brinkley Incorporated’s balance of Allowance for Uncollectible Accounts is…

A:

Q: How much cash will be collected in​ January? In​ February? In​ March? For the quarter in​ total?

A: WORKING NOTE   November December January Febuary March   Sales revenue              16,500…

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% of may collections)+ (75% of June collections) Where, 25% of May collections…

Q: A Plus Services has the following transactions during January: Credit sales of $110,000, collections…

A: There are two types of method for recording the bad debt expense: Direct Write-Off Method: Under…

Q: rald Service anticipates the following sales revenue over e-month period Its collection history…

A: This question relates to working capital management wherein the account receivables are being…

Q: A Mikey's sells $119,500 of its accounts receivable to factors at a 1% discount. The firm’s average…

A: The factoring services are used by the business to sell out their account receivables at a discount…

Q: iary calculations to two decimal places and your final answer to the nearest day.)   A. 54 days.

A: The right answer is c]option C. 46 days.

Q: As of January 1 of the current year, Grayson Company had accounts receivable of $40,000. The sales…

A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

Q: The following details have been obtained from the receivable’s records of DEF Company:   Invoices…

A: Solution:- Calculation of  the total budgeted receipts for May from credit sales as follows:-…

Q: At the beginning of July, MedLab Inc. assigned P2,000,000 out accounts reccivable to BPI in…

A: Sender deposits funds into recipient's account rather than remitting by debit or credit card,…

Q: The following projections have been made by Orange Traders for the period ending 31 March 2022: 1.…

A: Cash Budget: It  is the  estimation of  cash inflows and outflows  of a business to measure  whether…

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Milton Company provides this information for the month of November, 2008: sales on credit P150,000;…

A: Formula: Net sales = Cash sales + Credit sales - Sales discount - Sales returns and allowances

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the…

A: Balance of allowance for uncollectible accounts after adjustments = $4,400 Less: wrote off old…

Q: The following sales and purchases are expected over the Four-month period from December to March…

A: The questions are multiple choice questions  Required  Choose the Correct Option.

Q: The following sales and purchases are expected over the Four-month period from December to March…

A: Cash budget of the business shows expected cash receipts and cash disbursements of the business for…

Q: Consider the following information for a given company. Month Cash Sales Credit Sales Jan $80.000…

A: Given, Cash sales = $80,000 for January

Q: XYZ has forecast its sales revenues and purchases for the last 5 months of 2015 to be as follows:…

A: The cash budget is prepared to record cash receipts and cash disbursements made during the period.…

Q: Ebony Company has the following expected pattern of collections on credit sales: 70 percent…

A: Collection of sales is as follows: 70% of sales in the month of sales 15% in the first  month after…

Q: Bennett Inc. found that about 35% of its sales during the month were for cash. Bennett has the…

A: The credit sales of April, $162,500 is computed by multiplying the anticipated sales of the month,…

Q: Terry's hardware normally takes 27 days to pay for average daily credit purchases of $9,530.  Its…

A: Part (a)Accounts receivable = Average daily credit sales x Average collection period = $ 10,680  x…

Q: The Suitter Company is a small company producing suit cases.  The followings are the company’s…

A: Account Receivables - It refers to the amount that company would to receive from their customer on…

Q: The Amber Magick Shoppe has forecast its sales revenues and purchases for the last 5 months of 200x…

A: Budget is an estimated schedule of estimated receipts and estimated payments during the particular…

Q: On April 30, Gomez Services had an Accounts Receivable balance of $30,100. During the month of May,…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: The following sales and purchases are expected over the Four-month period from December to March…

A: Cash budget is very important budget in the business which shows that how much cash is expected to…

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% x May month sales) + (75% x June month sales) 25% of May month sales = (15%…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.