Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business September, October, and November are $245,000, $311,000, and $413,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in November from accounts receivable are projected to be: a. $231,280 O b. $187,740 Oc. $329,784 Od. $274,820

Oivas Corporation is preparing its cash budget for September. The budgeted beginning cash balance is $46,000. Budgeted cash seceipts total $160,000 and budgeted cash disbursements total $152,000. The desired ending cash balance is $70,000. The company can borrow up to $120,000 at any time from a local bank, with interest not due until the following month. What is the amount required to borrow in order to have the desired ending cash balance? Oa $15,000 Ob $10,000 Oc $26,000 Od $16,000

Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow. Sales are budgeted at $300,000 for November, $320,000 for December, and $310,000 for January. Collections are expected to be 65% in the month of sale, 30% in the month following the sale, and 5% uncollectible. Beginning November accounts receivable is $93,000. The cost of goods sold is 75% of sales. The company purchases 70% of its compressed gases in the month prior to the month of sale and 30% in the month of sale. Payments for purchases are 40% in the month of purchase and 60% in the following month. Other monthly expenses to be paid in cash are $22,900. The Monthly depreciation is $21,000. The company has a desired ending cash balance of at least $35,000. It has an available line-of-credit for borrowing, if necessary, at 12% interest per annum. Assume that after the company acquired land and paid dividends in November, such that the beginning…

Bridgeport Inc. has budgeted sales for the second quarter of $340,000 for April; $505,000 for May; and $670,000 for June. Normally, 20% are cash sales and 80% of sales are on account. As well, 30% of the sales on account are normally collected during the month of sale, 50% in the following month, and 20% in the second month following sale. The accounts receivable balance as of April 1 is $250,000.Prepare the schedule of cash collections for the second quarter by month and in total. (Round intermediate calculations and final answers to 0 decimal places, e.g. 15 or 15%.)