Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $115,000 November 144,000 December 210,000 The Accounts Receivable balance on September 30 was $77,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $519,000 for April, $529,000 for May, and $554,000 for June. Total sales for March are $300,400.Prepare a schedule of cash receipts from sales for April, May, and June.

Cash disbursements schedule Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given here and the following information in its preparation. Sales: February $493,000; March $517,000; April $539,000; May $627,000; June $660,000; July $651,000 Purchases: Purchases are calculated as 65% of the next month's sales, 12% of purchases are made in cash, 55% of purchases are paid for 1 month after purchase, and the remaining 33% of purchases are paid for 2 months after purchase. Rent: The firm pays rent of $8,020 per month. Wages and salaries: Base wage and salary costs are fixed at $5,700 per month plus a variable cost of 7.3% of the current month's sales. Taxes: A tax payment of $54,700 is due in June. Fixed asset outlays: New equipment costing $74,900 will be bought and paid for in April. Interest payments: An interest payment of $30,100 is due in June. Cash dividends: Dividends of $13,000 will be paid in April. Principal repayments…

Cash collections The treasurer of Homeyra Corp. needs to estimate cash collections from accounts receivable for September, October, and November. Forty percent of the company's customers pay in cash and the rest are credit customers. The collection pattern for the credit customers is 20 percent in the month of sale and 80 percent in the following month. Because of Homeyra's established client base, the company experiences almost zero uncollectible accounts. Estimated total sales for August, September, October, and November follow. Month Sales August $78,000 September 80,000 October 95,000 November 91,000 Determine Homeyra Corp.'s cash collections for September, October, and November. Cash Collections: September $ 32,000 x October $ 0 x November $ 0 x Check

J. Lo's Clothiers has forecast credit sales for the fourth quarter of the year: Fourth Quarter September (actual) $ 73,000 October November December $ 63,000 58,000 83,000 Experience has shown that 35 percent of sales are collected in the month of sale, 60 percent are collected in the following month, and 5 percent are never collected. Prepare a schedule of cash receipts for J. Lo's Clothiers covering the fourth quarter (October through December). Credit sales Collections: In month of sales One month after sales Total cash receipts J. Lo's Clothiers September October November December $ 0 $ 0 $ 0

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Schedule of Cash Receipts

Current Attempt in Progress Swifty Industries expects credit sales for January, February, and March to be $176,000, $208,000, and $240,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Credit Sales January February March $ January Collections from Customers February March

Schedule of Cash Collections of Accounts Receivable Furry Friends Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $300,000 June 370,000 July 530,000 All sales are on account. 53 percent of sales are expected to be collected in the month of the sale, 36% 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 May, June, and July. Furry Friends Supplies Inc. Schedule of Collections from Sales For the Three Months Ending May 31   May June July May sales on account:       Collected in May fill in the blank 1     Collected in June   fill in the blank 2   Collected in July     fill in the blank 3 June sales on account:       Collected in June   fill in the blank 4   Collected in July     fill in the blank 5 July sales on account:       Collected in July…

Eastern Auto Parts Inc. has 20 percent of its sales paid for in cash and 80 percent on credit. All credit accounts are collected in the following month. Assume the following sales: January February March April $ 82,000 72,000 117,000 62,000 Sales in December of the prior year were $92,000. Prepare a cash receipts schedule for January through April. Sales Cash receipts: Cash sales Prior month's credit sales Total cash receipts Eastern Auto Parts Inc. February January $ 80,000 $ March 81,000 $ April 106,000