Prepare a Sales Budget for all four months, showing breakdown between cash and credit sales Sales Budget Total sales Cash sales Collection of credit sales: Craig's Design and Landscaping Sales Budget May April Prepare the Cash Budget for June and July. Round all answers to nearest dollar Cash Collections Budget Total cash collections Total collection of credit sales June Craig's Design and Landscaping Budgeted Cash Collections from Customers June Area to show work for collection of credit sales: (optional) July July What does the 2% of credit sales not collected represent? Should this be of concern for Craig?

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The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year 01 02 04 Sales # 330 $390 a. Accounts receivable at the beginning of the year are $360. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables 03 $450 Beginning receivables Sales Cash collections Ending receivables S Beginning receivables Sales Cash collections Ending receivables 01 01 300 330 01 330 b. Accounts receivable at the beginning of the year are $360. The company has a 60-day collection period Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e-g.. 32. 02 330 02 390 Q² 390 03 350 03 450 03 c. Accounts…

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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…

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