what are the expected cash payments in July?
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NUBD Company expects its purchases for June to be P130,000 and its purchases for July to be P124,000. NUBD pays for 60% of its purchases in the month of purchase and receives a 2% discount. NUBD pays for the remaining 40% in the next month without discount. For purchases only, what are the expected cash payments in July?
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- Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is collected in the month of sale, 25% is collected the month after the sale, and 5% is collected the second month after the sale. How much cash will be collected in August if sales are estimated as $75,000 in June, $65,000 in July, and $90,000 in August?Earthies Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70% is collected in the month of sale, 15% is collected the month after the sale, and 10% is collected the second month after the sale. How much cash will be collected in June if sales are estimated as $75,000 in April, $65,000 in May, and $90,000 in June?Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?
- Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25% was collected the month after the sale, and 10% was collected the second month after the sale. Given the sales shown, how much cash will be collected in March and April?Donald Company expects its purchases for June to be 130,000 and its purchases for July to be 124,000. Donald pays for 60% of its purchases in the month of purchase and receives a 2% discount. donald pays for the remaining 40% in the next month without discount. For purchases only, what are the expected cash payment in July?A. 124,912B. 127,392C. 124,000D. 124,400Planet Company purchased goods worth $50,000 in July and expects to purchase goods worth $70,000 in August. Planet typically pays for 35% of purchases in the month of purchase and 65% in the following month. What are Planet Company's total expected cash disbursements for purchases in the month of August?
- A firm collects 25% of its credit sale in the month of sale and the remainder in the following month. The credit sale for the month of June is GHC 150,000. It expert to pay bills of GHC 22,000 in July. The depreciation for the month is GHC 1000. If the company maintains an end month cash balance of GHC 100,000, what is the external finance required?Dolittle and Dalley has $4,000 in purchases for January and $5,000 in purchases for February. It expects to pay 70% of its purchases in the month the purchases are made. The remaining amount will be paid in the following month. How much does Dolittle and Dalley include as cash paid for inventory in February?Chatsworth Company Month Expected Sales July $40,000 August $50.000 September $30,000
- Al Bahr Corporation, a wholesaler, provided the following informationMonthSalesJanuary64000February59000March42000April48000Customers pay 60% of their balances in the month of sale, 30% in the month following sale, and 10% in the second month following sale.Required: Determine the expected cash collection during March.XYZ has forecast its sales revenues and purchases for the last 5 months of 2015 to be as follows: Sales Purchases August $22,000 $17,000 September 15,000 19,500 October 25,000 29,000 November 30,000 20,000 December 26,000 24,000 60% of sales are on credit. On the basis of past experience, 50% of the accounts receivable is collected the month after the sale and the remainder are collected 2 months after the sale. Purchases are paid 30 days after they are incurred. The firm has a cash balance of $5,000 on hand as of October 31, but its minimum required cash balance is $4,000 Required: A. Prepare a schedule of cash receipts for October, November, and December. B. Prepare a cash budget for the same period.Rainbow Inc.'s sales equal $200,000 each month. Rainbow generally permits credit purchases with terms of 3/10 net 30. Ten (10) percent of total sales are for cash, and the remaining 90 percent pay on credit. Of the credit sales, 20 percent are paid on Day 10 of the billing cycle, and the rest pay on Day 30 (in the following month). What is the amount of the discounts that Rainbow's customers normally take?
