Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $300,000 February 500,000 March 750,000 All sales are on account. Seventy-five percent of sales are expected to be collected in the month of the sale, 20% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Enter all amounts as positive numbers. Pet Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending March 31   January February March January sales on account:       Collected in January $fill in the blank 1     Collected in February   $fill in the blank 2   Collected in March     $fill in the blank 3 February sales on account:       Collected in February   fill in the blank 4   Collected in March     fill in the blank 5 March sales on account:       Collected in March     fill in the blank 6 Total cash collected $fill in the blank 7 $fill in the blank 8 $fill in the blank 9

Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $184,900 April 172,000 May 156,500 Depreciation, insurance, and property taxes represent $39,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taves for the year will be paid in November. 71% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, Apri, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March Apr May March expenses Paid in March Paid in April Apri expenses Paidin April Pad in May May expenses Prepare a…

Treasure Service anticipates the following sales revenue over a five-month period: Its collection history indicates that credit sales are collected as follows: E (Click the icon to view the sales data.) A (Click the icon to view the collections data.) The company's sales are 20% cash and 80% credit. How much cash will be collected in Janua More Info 25% in the month of the sale 50% in the month after the sale Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole do 20% two months after the sale Treasure Service 5% are never collected Cash Collections Budget For the Months of January through March January Data Table Print Done Cash sales Collection of credit sales: 25% Month of sale November December January February March 50% Month after Sales revenue....... 16,100 $ 10,000 $ 15,200 $ 12,000 $ 14,200 20% Two months after Total cash collections Print Done

How much is the company's expected cash collections in the month of May?

Woodpecker Co. has $300,000 in accounts receivable on January 1. Budgeted sales for January are $964,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are a.$642,720 b.$1,071,200 c.$1,371,200 d.$856,960

X-Tel budgets sales of $55,000 for April, $110,000 for May, and $70,000 for June. Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. Total sales for March were $13,000. Prepare a schedule of cash receipts from sales for April, May, and June Sales Cash receipts from: Total cash receipts X-TEL Schedule of Cash Receipts from Sales April $ $ 55,000 $ 0 $ May 110,000 $ 0 $ June 70,000 0

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Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March April May Depreciation, insurance, and property taxes represent $19,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 61% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. $88,600 82,400 75,000 Prepare a schedule of cash payments for selling and administrative expenses for March, April, and May. Horizon Financial Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May Total cash payments May

Newman Medical Clinic has budgeted the following cash flows. January February March $109,000 $115,000 $135,000 Cash receipts Cash payments For inventory purchases For S&A expenses Newman Medical had a cash balance of $12,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Newman pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) 94,500 76,500 89,500 35,500 36,500 31,500 Cash Budget Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity $ EA January 0 0…