The following information is provided:   Week Covers 1         2,200 2         2,200 3         2,300 4         2,600 5         2,500 6         2,400   This food operation uses a moving average and a 4-week base period for forecasting sales. The forecast for the upcoming Week 7's volume is:

All sales are made on credit terms of net 30 days and are collected the following month and no bad debts are anticipated. The accounts receivable on the balance sheet at the end of September thus will be collected in October. The October sales will be collected in November, and so on. Inventory on hand represents a minimum operating level (or “safety” stock), which the company intends to maintain. Cost of goods sold average 80 percent of sales. Inventory is purchased in the month of sale and paid for in cash. Other cash expenses average 7 percent of sales. Depreciation is $10,000 per month. Assume taxes are paid monthly and the effective income tax rate is 40 percent for planning purposes.  The annual interest rate on outstanding long-term debt and bank loans (notes payable) is 12%. There are no capital expenditures planned during the period, and no dividends will be paid. The company’s desired end-of-month cash balance is $80,000. The president hopes to meet any cash shortages during…

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Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May June July August $ 42,000 48,000 37,000 46,000 54,000 56,000 Sales in January and February were $45,000 and $44,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare a monthly cash receipts schedule for the firm for March through August. Credit sales Collections: In month of sale One month after sale Watt's Lighting Stores Cash Receipts Schedule January February March April May June July August Two months after sale $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Total cash receipts