Page Company makes 30% of its sales for cash and 70% on account. 60% of the credit sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered t the current year: Month Total sales Total cash receipts in Month 4 will be: Multiple Choice O $27.230. O $47.900 1 2 3 4 $ 60,000 $ 70,000 $50,000 $30,000 636230

Nonna's Re-Appliance Store collects 52% of its accounts receivable in the month of sale and 37% in the month after the sale. Given the following sales, how much cash will be collected in February? Round to the nearest penny, two decimal places. Month Sales Nonna's Re-Appliance Store data December $20,688 January $62,044 February $69,259

Nice Ltd has a Days Inventory Outstanding of 13, Accounts Receivable $128, Average Sales per Day of $15, Days Payable Outstanding of 3. Compute Cash Conversion Cycle in days.

.    With regard to accounts payable: Explain the rationale of taking a cash discount, such as 4/8, n/30. Assume a purchase of $1,000,000. include computations Additionally, determine the approximate balance of accounts payable, if a company stretches its payables to 40 days and on average, they make purchases of $1,000,000 per day from their vendors.

Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for the current year: Month                   1                      2                      3                      4 Total sales $78,000           $80,000           $68,000           $48,000 Total cash receipts in Month 4 will be: A. 38,780 B.68,000 C.53,180 D.50,600

On average, your firm sells $32,300 of items on credit each day. The average inventory period is 27 days and your operating cycle is 47 days. What is the average accounts receivable balance? $872,100 $1.292.000 $904,400 $646,000 $1,518,100

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Karim Corp. requires a minimum $9,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.    July   August   September   Cash receipts $ 25,000   $ 33,000   $ 41,000   Cash payments   29,500     31,000     33,000     Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.)      KARIM CORP. Cash Budget For July, August, and September   July August September Beginning cash balance $9,400             Total cash available                       Preliminary cash balance               Ending cash…

Financial information for Strawberry’s Place is as follows: Cash at 1/1/20X1 is $10,000. The firm desires to maintain a minimum balance of $10,000 at the end of each month.     Total monthly sales are as follows: DecemberJanuaryFebruary 20X020X120X1 $120,000150,000 (est.)160,000 (est.)     The sales are 40 percent cash and 60 percent credit card. Visa is the only acceptable credit card at Strawberry’s, and assume the charges are converted to cash the day of the sale. The brokerage charge is 2 percent of the sale.   Expected other income is $2,000 from interest to be received in February. In addition, in January, a range with a net book value of $300 is expected to be sold for cash, resulting in a $1,000 gain on the sale.   Food and beverages are paid for the month following the sale and average 40 percent and 25 percent, respectively. Food sales are four times beverage sales. Total sales consist of only food and beverage sales. Labor is paid for the last day of the month and…

Dream Big Pillow Co., pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $58,000 $48,000 $33,000 $39,000 $45,000 Given the above purchases, how much cash will be paid in quarter 2018? Cash paid $